Lithium Move From Tesla

Lithium Move From Tesla The lithium move came from Tesla. The electric car maker plans to release the lithium itself after abandoning its merger and acquisition plan. According to information obtained from sources close to the subject, Tesla Inc. acquired its own lithium mining rights after abandoning its plan to acquire a company in Nevada. Sources made statements are Cypress Development Corp., which aims to extract lithium from Tesla's clay deposits in southwest Nevada in recent months. Reporting that they met for an agreement, but the parties could not agree. Tesla Inc., which has committed to reduce the cost of the battery by 50 percent, will try to extract its own lithium in Nevada as part of the plan announced by Elon Musk last week, instead of the said purchase. Lithium production from clay is known to be difficult and costly. Until now, no company has been able to produce commercial quantities by extracting its own lithium. However, the mining initiative is the focal point of the electric car manufacturer's plan to reduce battery costs and introduce $ 25,000 electric cars to the market. Elon Musk said in a statement last week that Tesla had secured access to a 10,000 acre lithium-rich clay deposit and was planning to use a "highly sustainable" new method to extract the metal.