- Write by:
-
Thursday, April 21, 2022 - 14:23:41
-
490 Visit
-
Print
Mining News Pro - Tesla Inc. Chief Executive Officer Elon Musk made a public appeal for more investment in lithium mining to close what he sees as a yawning gap between supply and demand that’s being fueled by the adoption of electric vehicles.
Battery production, and more specifically lithium, is the “fundamental limiting factor” for electric-vehicle adoption worldwide, Musk said on an earnings call with investors Wednesday.
“We think we’re going to need to help the industry on this front,” Musk said. “I’d certainly encourage entrepreneurs out there who are looking for opportunities to get into the lithium business. Lithium margins right now are practically software margins.”
Earlier Wednesday, Tesla reported a record first-quarter profit, helped in part by raising prices.
An index of global lithium prices compiled by Benchmark Mineral Intelligence surged 280% in 2021 and another 127% in the first quarter. Soaring prices for lithium, a key ingredient in EV batteries, are increasing raw material costs for carmakers such as Tesla.
Short Link:
https://www.miningnews.ir/En/News/621102
Chinese carmaker BYD Co has postponed plans to produce lithium cathodes for electric vehicle (EV) batteries in Chile by ...
Australian-based Atlantic Lithium Ltd., which is developing Ghana’s first lithium mine, has taken a step toward raising ...
Truck drivers in Chile staged protests Monday in the mineral-rich north of the country and around the capital Santiago, ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
Australia will spend A$566 million ($373 million) over the coming decade to map out resource deposits with a focus on ...
Equinor on Wednesday said it has entered an agreement with Standard Lithium to acquire a 45% stake in lithium projects ...
No comments have been posted yet ...