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Tesla Signs New Chinese Battery Supply Deals

August 2, 2022
Source: teslanorth.com teslanorth.com
News Snapshot:
Tesla has signed new long-term contracts with China-based battery-materials suppliers, in hopes to continue securing necessary minerals for electric vehicles (EVs) in the years to come. Tesla signed pricing agreements with both Zhejiang Huayou Cobalt Co. and CNGR Advanced Material Co. to supply the automaker minerals through the mid-decade, according to stock-exchange statements from each company, reports Bloomberg. The deals refer to ternary precursor materials, which are the chemical cocktails that store energy in the lithium-ion batteries that are common for EVs. The news comes amidst soaring demand for EV battery minerals, as EVs are inching closer to center stage...
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