Tesla wants to buy its own lithium mining company

Tesla wants to buy its own lithium mining company

The international media Bloomberg has reported that Teslabillionaire Elon Musk’s Tesla is looking to buy a mining company in lithium at Brazil.

“The electric-vehicle maker led by Elon Musk has been talking to potential advisers about an offer, said the people, who asked not to be identified because the information is confidential. Sigma Lithium is one of the many mining options that Tesla is exploring as it evaluates its own refinement,” he says.

Tesla Mining

From the media they assure that the largest shareholder of. Sigma Lithium, A10 Investimentos, is considering pushing for the sale of the company and. Tesla has shown interest.

One of its main projects is the mining of lithium in the state of Minas Gerais, known for its large deposits. They have a target of producing 766 thousand tons per year.

The share price of Sigma Lithium has tripled over the past year, making it a harder target to acquire. The stock also soared 24% in aftermarket trading following a report that Tesla is interested in acquiring it.

The demand for lithium has grown enormously for electric car batteries, an industry that is expected to continue to grow in the coming years in order to do away with combustion engines and avoid further global pollution.

Tesla is going strong

Starting in 2020, in the day of the battery of Teslathe company had indicated its interest in entering the mining business. At that time, even 4,000 hectares of mining concessions were purchased. lithium in Nevada.

But to date no further progress has been made in that regard by the company.

For the time being, Tesla has only been engaged in the refining of lithium With a new plant under construction in Texas.

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Kayleigh Williams