SMM9 March 23: today, at Tesla's Battery Day event, Musk said the company officially entered the mining business. Tesla has acquired ownership of a 10, 000-acre lithium clay deposit in Nevada, Musk said at a press conference.
The plan aims to make cheaper and more efficient batteries, which will eventually enable Tesla to lower car prices. Drew Baglino (Drew Baglino), senior vice president of power systems and energy engineering for Musk and Tesla, outlined the company's plans and progress that will eventually lead to an annual battery production of 10 to 20 megawatt hours.
"We will begin to build our own cathode plant in North America and take advantage of existing nickel and lithium resources in North America, and we can reduce mileage simply by localizing the cathode supply chain and production. "all the materials that end up in the cathode are 80 per cent," Baglino said.
According to Baglino, there will be a lithium conversion facility next to the cathode device, adding that the company is working on a new sulfate-free process, which he claims will reduce lithium costs by 33 per cent.
It is not clear where the cathode device will be located. But if the goal is to tie the supply chain together, it could end up next to the lithium clay that Tesla recently bought mining rights.