Elon Musk is considering purchasing a mining company.
If Tesla wants to achieve its high aim of producing 20 million electrified vehicles annually by 2030, the auto industry faces a metals supply problem. November 8, 2022 https://borates.today/elon-musk-mining/
Is Tesla getting into the mining business?
It would be better if Tesla avoided this as they have never been involved in the mining sector. The cost of acquiring an established metals manufacturer would be considerably lower than the alternatives.
Elon Musk Interested in Mining Company
Lithium is a necessary ingredient for electric vehicles.
The demand for lithium is increasing along with it.
Lithium prices have increased by a staggering 400%, thus it would seem that the company is moving more aggressively into space.
Plans to obtain this essential mineral on their own in order to feed their network with what they need before moving on at full speed!
