Elon Musk needs more Lithium supplies, and this component will be for the electric vehicle batteries and their production, especially with Tesla's ongoing manufacturing venture. The scarcity of the battery component is a massive problem for the world, especially with the rising prices it has on the market.
The Tesla CEO initially revealed that the clean energy company is soon getting into mining for Lithium.
Tesla's Elon Musk Wants More Supplies of Lithium Amidst Shortage
Tesla CEO Elon Musk uses his mobile device as he sits in the car arriving to the construction site for the new plant, the so-called "Giga Factory", of US electric carmaker Tesla in Gruenheide near Berlin, northeastern Germany.
According to Bloomberg's report, Elon Musk said that he wants more Lithium for the battery production ventures of Tesla, with the component being its main focus and center of the power cell. However, the issue now is that only a few manufacturers and countries can provide this, now that the mining for it is hard and scarce.
The current shortage of the battery industry lies in the Lithium mining supply and production, as now it is shaping up to be a global phenomenon as most power cells require the said component. Tesla is one of the companies that need the supply, and despite their massive stakes for this, there are only a handful that can provide.
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Electric Vehicles Need Lithium for Battery Production
Electric Vehicles need Lithium for their battery production focus, and it would fall on both the company's production and other partner entities to supply them with their requirements. Once there was a proposition by Elon Musk that Tesla was looking into Lithium mining, and it would be what would answer the soaring prices it has on the market.
But there are no developments on that end from the tech CEO.
Elon Musk, Tesla, and Lithium Mining
The world is on edge right now, as several corporations look into massive shortages in supplies, and it is not with single industries only. One of the industries that see a deficit is battery production in the global market.
Before, the chip shortage for computer manufacturing effectively slowed down the production of these components.
However, it seems to have balanced out now, and it is seeing another industry face shortages. The recent statement by Elon Musk talked about how Tesla would look into mining Lithium on their own, and this would ensure the company saves money on the rising prices of the element that is also scarce from its sources.
Many battery ventures from Tesla look into Lithium alternatives, especially the high-capacity ones that will replace the component for the power cells. However, it is hard as Lithium is one of the few components that bring high capacity conduction that can keep power for long times and support many charges in its lifetime.
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Written by Isaiah Richard
