Tesla will buy the material from the company’s processing plant in Vidalia, Louisiana, which sources graphite from its mine in Balama, Mozambique. The Austin, Texas-based electric automaker plans to buy up 80% of what the plant produces — 8,000 tons of graphite per year — starting in 2025, according to the agreement. Syrah must prove the material meets Tesla’s standards.
The deal is part of Tesla’s plan to ramp up its capacity to make its own batteries so it can reduce its dependence on China, which dominates global graphite markets, said Simon Moores of United Kingdom-based battery materials data and intelligence provider, Benchmark Mineral Intelligence.
“It starts at the top with geopolitics,” Moores said. “The U.S. wants to build enough capacity domestically to be able to build (lithium-ion batteries) within the USA. And this deal will permit Tesla to source graphite independent from China.”
This story is from the AppleMagazine #534 edition of AppleMagazine.
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This story is from the AppleMagazine #534 edition of AppleMagazine.
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