A couple of months back, Tesla CEO Elon Musk sent an invitation to investors saying investing in global lithium refining is as remunerative as “Printing money.”
Now, Tesla is forging a lithium refining factory in Texas. Tesla has applied with the Texas comptroller office; Tesla has been looking to procure solace on local property taxes; this could assist the firm in growing up with the new expedition. The electric vehicles maker says that a battery-grade lithium hydroxide refining facility is to be produced on the gulf coast of Texas:
“The potential battery-grade lithium hydroxide refining facility, which Tesla touted as the first of its kind in North America, will process “raw ore material into a usable state for battery production,” the company said in an application filed with the Texas Comptroller’s Office.” as far as the build-out technology is concerned, it is certain to put a lucid guess over the watch to secure a place at ease.
But, what makes this happen differently is the company’s plan or the time frame it would consume to kickstart lithium production. If things go on track, Tesla says, the company could begin lithium production as soon as in the fourth quarter of 2022, which would spark the cable to upsurge commercial production by the end of 2024.
This ain’t appear to be unseemly until it has stories to tell. Maybe, this wouldn’t be the first time Tesla and Musk discussed starting a lithium factory; all the way back in 2014, Musk gave a good try to snatch a lithium startup for $325 million, only to end up with nothing.
At Tesla’s Battery Day event in 2020, the automaker undisclosed that it is entering into the mining business, starting with acquiring lithium claims on 10,000 acres in Nevada. Tesla has recently issued a plethora of contracts to obtain a supply of lithium, howbeit it seems like a better option to give itself a ride to start a process for further worldliness.