Tesla buys more than a billion dollars a year from Australian minerals

Tesla buys more than a billion dollars a year from Australian minerals

Tesla said it expects to spend more than $ 1 billion a year on Australian battery raw materials due to the country’s reliable mining industry and responsible production practices.

U.S. Automotive President Robyn Denholm said Wednesday that Australia, which is rich in minerals used in batteries such as lithium and nickel, is benefiting from the development of electric vehicle battery supply chains and green energy is based on the environment, socially. and governance (ESG).

“We expect spending on Australian Minerals to rise by more than $ 1 billion a year in the coming years,” Australian Denholm said at an Australian Minerals Council event.

Tesla already has three-quarters of its lithium material from Australia and more than a third of its nickel, Denham said, without specifying a dollar figure.

“Australian Mining companies have a good reputation, a great deal of specialization, professionalism and are preferred by manufacturers who are committed to meeting current and future ESG requirements,” Canberra said.

The comments are in line with the new policy pursued by U.S. President Joe Biden’s administration to supply the metals needed to build Allied-based electric vehicles.

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The U.S. will then begin converting these metals into battery parts, part of a strategy designed to reassure environmentalists, two knowledgeable administration officials told Reuters last month.

Along with Australia, Canada and Brazil, they are among the countries that expect the benefit.

This year, hard stone lithium exports, known as spodumene, are expected to reach $ 1 billion ($ 773 billion) in Australia this year, and nickel exports are expected to reach $ 4 billion, government data show.

Tesla also supplies Australia with batteries to store energy trapped by solar panels on the roof, ensuring reliability in the power grid. Australia has the highest per capita density of solar roof panels in the world in Australia.

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