Tesla said it is ready to buy a mining company if its own production of electric vehicle (EV) metals will accelerate global adoption of clean energy technology, CEO Elon said. Mr Musk said on Tuesday.
The EV industry has fueled doubts about whether Tesla will consider entering the mining sector and fears that it may not have enough lithium, nickel, copper and other metals to meet demand in the second half of the decade. It is growing overall.
“That’s not out of the question,” Musk told FT Future at the Car 2022 conference. “We will address the limitations of accelerating the global transition to sustainable energy. We do not want to buy a mining company, but if that is the only way to accelerate the transition. , Do it. “
Automobile giants have EV metal contracts with suppliers around the world, but the goal of producing 20 million cars a year by 2030 is what Musk called “a desire, not a promise.” It will require a much larger supply of metal. Last year, Tesla produced just under a million EVs.
Other automakers and executives, including Carlos Tavares, CEO of Tesla’s rival Stellantis NV, have warned that the automotive industry is facing a metal supply shortage.
Since Tesla has no experience with the time-consuming and labor-intensive work of building and operating a mine, industry analysts advise automakers to focus on buying existing operators.
Many in the mining industry say the cost of buying an existing metal producer is much cheaper than the $ 43 billion offered to personally buy Twitter Inc, a social media network earlier this year. ..
Tesla has lithium supply contracts with Ganfeng Lithium Co, Livent Corp, Albemarle Corp and others. The company’s lithium supply contract with Piedmont Lithium Inc PLL.O was suspended last year.
Tesla has nickel supply contracts with Vale and Talon Metals Corp.
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