From Mining.com, July 23:
Tesla (NASDAQ: TSLA) boss Elon Musk is calling miners to produce more nickel, a key ingredient in the batteries that power his company’s electric cars, and has offered a “giant contract for a long period of time” to any firm able to extracted it in an efficient, environmentally sustainable manner.
Musk noted on a second-quarter earnings call that the high price of electric car batteries continues to be one of the main hurdles for Tesla.
“The real limitation on Tesla growth is cell production at an affordable price. That’s the real limit,” he said, adding the company would expand its business with battery-partners Japan’s Panasonic Corp., China’s CATL and “possibly with others.”
The electric vehicles (EVs) maker’s primary battery technology is based on a blend of nickel, cobalt and aluminum (NCA). However, as it shifts away from using cobalt over ethical mining and cost concerns, Tesla is placing a greater emphasis on the need for a steady supply of nickel.
A reportedly signed deal between the Tesla and Glencore (LON: GLEN) in June has cast doubts on the company’s statement that it’s close to eliminating cobalt from its batteries altogether.
The contract would involve supplies of 6,000 tonnes of cobalt from the Democratic Republic of Congo for Tesla’s new Shanghai factory........MORE
From InfoMine:
