Tesla inks battery materials deals with two China suppliers. tesla mining
General Motors Co. unveiled deals to buy inputs ranging from lithium to cathode materials last week, shortly after Ford Motor Co. revealed a list of suppliers with raw materials including Argentinean lithium and Indonesian nickel.
Huayou Cobalt will supply the materials to Tesla from July 1, 2022 to the end of 2025. The miner said the prices of the products will be subject to market prices for nickel, cobalt and manganese, as well as refining fees. CNGR will supply the EV automaker between 2023 and 2025.The transition to cleaner energy is boosting demand for battery ingredients, while supply has been hampered by Covid-related logistical woes and a lack of investment.
Both Huayou and CNGR were among a list of direct suppliers named by Tesla in its 2021 annual impact report. CNGR said in its statement that it supplied Tesla from 2020 until this year.
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