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Tesla Might Get Into The Mining Business To Secure Minerals For Electric Batteries - CEO

Metal News - Published on Fri, 14 Jun 2019

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Tesla CEO Mr Elon Musk during annual shareholder meeting said that Tesla might get into the business of mining minerals used in electric vehicle batteries if it wants to expand its product lineup and scale production. He said “ For now, Tesla plans to match product rollout with scaling of factory production. Once Tesla increases production to a very high level, it will look further down the supply chain and get into the mining business, I don’t know, maybe a little bit at least. We will do whatever we have to do to ensure that we can scale at the fastest rate possible.”

The comments came after Musk talked about plans for an electric pickup truck and an aim to begin production of its all-electric Class 8 semi truck by the end of 2020. He said those plans were dependent on Tesla’s ability to manufacture a lot of lithium-ion battery cells. He said “There’s not much point in adding product complexity if we don’t have enough batteries. That is complexity, but without gain.”

Concern about the supply of nickel, copper, lithium and related minerals used in electric batteries is not new. Last month, Tesla’s head of minerals procurement said during a closed meeting at an industry conference that the company expects global shortages of nickel, copper and lithium in the near future

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Posted By : Mohan Sharma on Fri, 14 Jun 2019
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