Deals News Hubb
Advertisement Banner
  • Home
  • Business Deals
  • Shopping Deals
  • Contact
No Result
View All Result
  • Home
  • Business Deals
  • Shopping Deals
  • Contact
No Result
View All Result
Gourmet News Hubb
No Result
View All Result
Home Business Deals

Elon Musk says a lithium shortage is holding back Tesla. His solution? Building a lithium refinery in Texas

admin by admin
October 20, 2022
in Business Deals



Tesla is moving forward with plans to build a lithium refinery on the Texas Gulf Coast in a bid to gain more control over the supply chain for electric vehicle batteries.

Chief Executive Officer Elon Musk confirmed the move Wednesday on a conference call in answer to an analyst’s question on progress developing the company’s new 4680 battery cell technology.

The Austin, Texas-based company has been weighing the project for months, as Bloomberg News previously reported, but had been considering at least one other site in Louisiana. The company has told state regulators it plans to build a battery-grade lithium hydroxide refining facility near Corpus Christi that would process raw ore material into something more production-ready.

Musk called lithium prices “crazy expensive” and has repeatedly encouraged entrepreneurs to start refining lithium as a way to ease supply bottlenecks of the key material used in lithium-ion batteries.

Sign up for the Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.



Source link

Previous Post

Holiday Gift Ideas for Pets and the People Obsessed With Them

Next Post

All In On Skin CVS Savings Event: Earn Over $50 ExtraBuck Rewards!

Next Post

All In On Skin CVS Savings Event: Earn Over $50 ExtraBuck Rewards!

Recommended

6 Things We Learned in 20 Years of Marriage

1 week ago

30+ Breast Cancer Awareness Products and Brands

4 months ago

U.S. might set price cap for Russian oil above $60/bbl – Bloomberg (NYSEARCA:XLE)

3 months ago

Elon Musk attacks Twitter’s previous leaders by trying to refocus attention on the GOP’s favorite target: Hunter Biden and his laptop

2 months ago

*SUPER HOT* Cricut EasyPress Mini only $29.99 shipped (Reg. $80!)

1 week ago

We’re Spilling the Beans on These Retailers’ Secret Sales

4 months ago

Deals-(-White-)

© 2022 Deals News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Business Deals
  • Shopping Deals
  • Contact

Newsletter Sign Up.

No Result
View All Result
  • Home
  • Business Deals
  • Shopping Deals
  • Contact

© 2022 Deals News Hubb All rights reserved.