Posted on July 09, 2014 by Minerals Make Life
Tesla Motors, a premier electric vehicle manufacturer, has plans to double the world’s lithium battery production at its proposed $5 billion “Gigafactory” to be located in the southwest U.S. One of the major impacts of this endeavor will be increased demand for critical minerals like graphite and cobalt that are integral for production. A new Industrial Minerals Data (IM Data) report, co-authored by analysts Simon Moores and Andy Miller, takes a look at Tesla’s most important question: How will the company source their minerals supply chain?
Rather than look overseas for their minerals, Tesla will use graphite, cobalt and other necessary materials from North American sources. Because of this, Moores and Miller examine several different factors at play that will impact how minerals and metals will be extracted from these sources. These factors include:
- The various minerals used in electric vehicle (EV) lithium-ion batteries
- Global critical minerals hotspots
- Critical minerals supply as a matter of U.S. national security
- The return of 21st century U.S. manufacturing
- Critical minerals accessible by Tesla, today
- Tesla’s demand for critical minerals to make EV lithium batteries.
Access to minerals means both a more productive and globally competitive America, as minerals are among the most important components of technologies that are furthering our innovation. If more companies like Tesla Motors are able to successfully tap into the North American raw materials market and establish a steady supply chain, the United States could become more self-reliant and less dependent on foreign minerals, which could greatly aid in stimulating the U.S.’ economic recovery.
Learn more about Tesla Motors here.