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EV: Tesla Goes to Africa to Limit Its dependence to China

January 19, 2022
Source: thestreet.com thestreet.com
News Snapshot:
Tesla ( TSLA ) - Get Tesla Inc Report is setting up a potential plan-B for the graphite it needs to produce its batteries thanks to a partnership with Australia's Syrah Resources. Tesla and Syrah signed an offtake agreement in December with Syrah supplying Tesla's natural graphite Active Anode Material from the company's production facility in Vidalia, Louisiana. That plant will process natural graphite concentrate shipped from the Syrah's Balama mine in Mozambique. Tesla plans to buy up to 80% of the plant's 8,000 ton per year output starting in 2025, based on the agreement. The agreement can be terminated...
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Tags: Africa | agreement | Australia | China | electric vehicle | EV | facility | games | IT | lithium | Madagascar | Mozambique | Namibia | Olympics | partnership | plant | production | quality | report | Reuters | sports | Tanzania | Tesla | vehicle

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