Tesla are currently in discussions about taking a 20% stake in Glencore to ensure they secure copper supply for Tesla's ever expanding operations. Tesla just topped sales in 16 countries. Europe electric car sales now 16% of new car sales.
https://cleantechnica.com/2022/10/25/europe-electric-car-sales-16-fully-electric-24-have-a-plug/
Beijing has just set a target of EVs accounting for 25 per cent of new vehicles sold by 2025.
What happened last year is a fly spec on what will happen in the next 3 years. Tesla operations are expanding in Brandenburg Germany as they ramp up production and have just submitted plans for an enormous expansion of their Brandenburg operation. Telsa sales are outcompeting BMW in Germany.
Why do you think the copper price hasn't fallen like some here were suggesting to sub $3/Lb? Because no matter what, EV's, wind energy and solar installations are increasingly gobbling up copper supply even though the Chinese housing market has softened.
Tesla Financials. Yep that $US$18.6 billion automotive revenue for the quarter with a 55% increase YOY, with more to come as Texas & Germany progress into full production.
Tesla are currently in discussions about taking a 20% stake in...
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