16th Jun 2020 06:56
(Alliance News) - Tesla Inc has agreed to source cobalt from miner Glencore PLC to use in its new car factories in Shanghai, China, and Berlin, Germany, the Financial Times reported Tuesday.
The newspaper said the carmaker will use the Swiss miner's metal from its Democratic Republic of Congo mine for use in Tesla's new Gigafactories to make lithium-ion batteries.
The deal will increase Tesla's reliance on the DRC but shows an increased effort to secure its own raw materials.
The deal, according to the FT, could involve up to 6,000 tonnes of cobalt a year.
https://www.ft.com/content/aa09dbcb-37ed-4010-a0ee-ab6cfab4d4b5?segmentId=bf7fa2fd-67ee-cdfa-8261-b2a3edbdf916
By Paul McGowan; [email protected]
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