- Write by:
-
Tuesday, November 2, 2021 - 12:37:34
-
464 Visit
-
Print
Mining News Pro - Ganfeng Lithium, China’s no.1 producer of the battery metal, has signed a new contract with Tesla to supply the electric vehicles maker with battery-grade lithium hydroxide products for three years starting in 2022.
The world’s top lithium miner by market capitalization did not provide details on price or volumes agreed in the deal, but said that information would be determined by Tesla’s purchase orders.
Based on the EVs maker’s disclosed plans, the transaction worth would be significant. Tesla expects to start initial operations at its two newest factories by the end of 2021. It has also said it would likely ramp up production at its Gigafactory Berlin and Giga Texas facilities in 2022.
Market rumours suggest that Tesla may finally start producing next year vehicles such as the Cybertruck and the Semi. Both of these prototypes use the hyped 4680 battery, which promises more range for less cost.
The enlarged, cylindrical 4680 cell, which Tesla first teased at its Battery Day in September 2020, could fulfill Elon Musk’s dream to build 20 million EVs a year.
Ganfeng had signed a supply deal with Tesla in 2018, through which it committed to provide the car maker with a fifth of its lithium production.
Today’ announcement follows an agreement between Tesla and New Caledonia’s Prony Resources, which guarantees the US firm about 42,000 tonnes of the metal needed to produce the batteries that power its EVs.
With the adoption of electric vehicles gaining traction globally, analysts expect key battery raw materials, including lithium, nickel and cobalt to extend this year’s gains as the race for new supply heats up.
Short Link:
https://www.miningnews.ir/En/News/616959
A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with ...
Iron ore futures prices ticked lower on Monday, weighed down by diminishing hopes of more stimulus in top consumer ...
Interros, Nornickel’s largest shareholder, on Monday called allegations by fellow shareholder Rusal about undervalued ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
French mining group Eramet said on Wednesday it had reached an agreement with the French government to continue its ...
Copper traded near a 15-month high as supply concerns and brighter demand prospects triggered a slew of bullish calls on ...
Rare earths prices in top producer China jumped to their highest in more than seven weeks on Monday on a wave of ...
No comments have been posted yet ...