Elon Musk once pledged to take raw material sourcing “all the way to the mine.” A report from Financial Times shows that Tesla tried to achieve this by buying a stake in mining giant Glencore. The deal supposedly fell apart, but this doesn’t mean it’s the end.
The battery raw material crunch is the next thing that will starve the auto industry, and car companies already try to think ahead by partnering with mining companies. Tesla is probably further along than anybody else in this endeavor, and, according to recent reports, the EV maker even considered entering the mining business. Financial Times revealed that Tesla and Glencore started preliminary discussions last year, and the talks continued this spring.
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