Australia’s Key EV Potential Beyond Elon Musk and Tesla – by Priscila Barrera (Australia Investing News – October 14, 2020)

Home

Battery metals investors around the world continue to talk about the news, plans and ideas discussed at Tesla’s (NASDAQ:TSLA) Battery Day in September.

The California-based automaker led by Elon Musk unveiled plans to reduce battery cell and pack costs with one main goal in mind: building a US$25,000 electric vehicle (EV).

Musk announced on stage that Tesla will be building a cathode facility in Texas, and will be sourcing its raw materials from North America. He also said the company has rights to lithium-rich clay operations in Nevada, which it could potentially use to secure supply of that raw material.

Putting Tesla’s North American plans into perspective, Paola Rojas, managing director of Synergy Resource Capital, told the Investing News Network (INN) that geopolitical tensions between the US and China have been increasing in recent times, and COVID-19 has exacerbated this.

“Elon Musk has shown a commitment to bringing production capacity and leading tech back to the US — from Tesla to SpaceX and Boring — and these realities have only, in our view, deepened this stance, so it was long time coming,” she commented.

For the rest of this article: https://investingnews.com/daily/australia-investing/australia-ev-potential-beyond-elon-musk-tesla/

No comments yet.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.