Tesla to spend $1 billion on battery minerals
Tesla announced how much it intends to spend on sourcing materials for its cars for the next couple of years and it is huge.
Electric automobile company, Tesla, announced that $1 billion and more has been allocated to purchasing battery raw materials that will be used in producing its cars from Australia. Tesla emphasized that Australia has a trustworthy mining industry and engages in ideal production activities.
The representative further revealed that Tesla currently gets three-quarters of its lithium and nickel from Australia.
Australia’s economy is predicted to benefit immensely from the growing demand and supply of electric vehicles across the automobile industry seeing as the nation has an abundance of minerals like nickel and lithium which are used for battery production.
Other nations predicted to benefit largely from the electric vehicles wave in the automobile industry for the next few years are Canada and Brazil.