:Tesla Inc on Monday broke ground on a Texas lithium refinery that CEO Elon Musk said should produce enough of the battery metal to build about 1 million electric vehicles (EVs) by 2025, making it the largest North American processor of the material.The facility will push Tesla outside its core focus of build
:Tesla Inc on Monday broke ground on a Texas lithium refinery that CEO Elon Musk said should produce enough of the battery metal to build about 1 million electric vehicles by 2025, making it the largest North American processor of the material.
Musk said Tesla aimed to finish construction of the factory next year and then reach full production about a year later. Musk did not specify the volume of lithium the facility would process each year, although he said the automaker would continue to buy the metal from its vendors, which include Albemarle Corp and Livent Corp. "We intend to continue to use suppliers of lithium, so it's not that Tesla will do all of it," Musk said.
Monday's announcement was not the first time that Tesla has attempted to venture into lithium production. Musk in 2020 told shareholders that Tesla had secured rights to 10,000 acres in Nevada where it aimed to produce lithium from clay deposits, which had never been done before at commercial scale. "We're begging you. We don't want to do it. Can someone please?," he said during a conference call last month.
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