Where does Tesla get its cobalt from?

In June 2020, Tesla signed a long-term deal to source cobalt from Glencore for its new “giga-factories” in Berlin and Shanghai.

Does Tesla use cobalt from DRC?

For instance, in its most recent impact report, Tesla stated that it only works with cobalt suppliers in the DRC that conform with the Responsible Minerals Initiative Responsible Minerals Assurance Process (RMAP), whose standards focus on forced labor and the worst forms of child labor.

Does Tesla still mine cobalt?

Tesla even released some very rare and interesting details about the effort. The automaker says that it had directly sourced over 95% of the lithium hydroxide, 50% of the cobalt, and more than 30% of the nickel used in its high-energy density cells (NCA and NCM) in 2021.

Does Tesla use child labor for cobalt?

And last year, Tesla filed a motion to dismiss a lawsuit in U.S. federal court in Washington, D.C., charging that the company, as well as Apple, Dell, and other tech giants, were aiding and abetting child labor in the cobalt mines; Tesla argued that it could not reasonably control the operations of mining companies ...

Does Tesla own cobalt mines?

In 2020, Tesla secured a deal with Swiss mining giant Glencore. Although Glencore gets most of its cobalt from the DRC, Tesla has stipulated in its contract that suppliers use “conflict-free” minerals.

How Removing Cobalt From Batteries Can Make EVs Cheaper

Where does Tesla get the cobalt for its batteries?

In June 2020, Tesla signed a long-term deal to source cobalt from Glencore for its new “giga-factories” in Berlin and Shanghai.

Who is the largest cobalt producer?

The mining industry in the Democratic Republic of Congo is the most lucrative and essential part of the DRC economy. It is their largest source of export income. The DRC accounted for more than two thirds of global cobalt production in 2021, making it the world's largest cobalt producer by a large margin.

Where does Tesla get their lithium?

Friday's tweet is not the first time Musk has raised the idea of Tesla mining its own lithium. In 2020, Tesla secured its own rights to mine lithium in Nevada after a deal to buy a lithium mining company fell through, according to Fortune, which was siting “people familiar with the matter.”

Who owns Congo cobalt mines?

However, Cobalt is a unique commodity because it's primarily controlled by only two countries: China and the Democratic Republic of Congo. The DRC supplies about 70 percent of the world's Cobalt, but 80% of its industrial cobalt mines are owned or financed by Chinese companies.

What did Tesla do that was unethical?

Late last week, California's Department of Fair Employment and Housing (DFEH) sued the automaker, alleging that Tesla had discriminated against Black workers at the company and ignored years of complaints from Black workers who said that they were almost continuously subjected to racist slurs in the workplace.

What will replace cobalt in batteries?

Some cobalt-free batteries do already exist, but they require some trade-offs. “There is already a viable cobalt-free battery and that is lithium iron phosphate or LFP.

Where does Apple get cobalt?

Apple, one of the world's biggest users of cobalt, is believed to have first opened talks with miners over a year ago in a bid to avoid getting caught out by potential future shortages of the raw material. Two-thirds of supplies come from the Democratic Republic of Congo.

Who buys cobalt from Congo?

At least here in Congo, China is so far winning that contest, with both the Obama and Trump administrations having stood idly by as a company backed by the Chinese government bought two of the country's largest cobalt deposits over the past five years.

What mining company is Tesla buying?

At Tesla's Battery Day event in 2020, the automaker announced that it is getting into the mining business – starting with buying lithium claims on 10,000 acres in Nevada.

Where does Tesla get minerals for batteries?

Tesla will buy the material from the company's processing plant in Vidalia, Louisiana, which sources graphite from its mine in Balama, Mozambique. The Austin, Texas-based electric automaker plans to buy up 80% of what the plant produces — 8,000 tons of graphite per year — starting in 2025, according to the agreement.

Where does Tesla get its nickel?

Vale was already known to be Tesla's main nickel supplier. The company also has recently done a big deal to secure nickel supply from New Caledonia from a mine previously operated by Vale.

Where does Tesla get its lithium and cobalt?

"Tesla plans to use Glencore cobalt in new Gigafactories", 16 June 2020. Tesla plans to use cobalt from Anglo-Swiss mining giant Glencore to build lithium-ion batteries at its new factories, according to industry sources...

Why does China want cobalt?

The mine figures prominently in the Chinese government's effort to dominate major supply chains for minerals and metals needed in the production of batteries for electric vehicles. Cobalt is essential for electric vehicles because it extends battery range. It is now trading at a three-year high.

Who owns the most cobalt in the world?

Major countries based on cobalt reserves 2021

The Democratic Republic of the Congo has the largest cobalt reserves in the world, at some 3.5 million metric tons as of 2021.

Who is Tesla's main lithium supplier?

Tesla also has a lithium supply deal with China-based Ganfeng Lithium (SHE: 002460), which grants the automaker a three-year supply of battery-grade lithium, starting in 2022. The EV icon also has agreements with BHP (ASX: BHP) for nickel and Mozambique-focused Syrah Resources (ASX: SYR) for graphite.

Will Tesla start mining lithium?

At Tesla's Battery Day event in 2020, the automaker announced that it is getting into the mining business – starting with buying lithium claims on 10,000 acres in Nevada.

What company does Elon Musk buy lithium?

Many in the mining industry have noted that buying an existing metals producer would cost far less than the $43 billion Musk offered to personally buy social media network Twitter earlier this year. Tesla has lithium supply deals with Ganfeng Lithium, Livent Corp and Albemarle Corp, among others.

What US companies mine cobalt?

Glencore (LSE:GLEN)

Glencore is the world's largest cobalt-mining company by a long shot, achieving estimated total production of 25,320 metric tonnes (MT) in 2021.

Can you invest in cobalt?

For those who want to jump in, there are two main ways to invest in cobalt: cobalt futures and cobalt stocks. Cobalt futures can be found on the London Metal Exchange under the symbol CO. These futures began trading in early 2010 and are quoted in US dollars per tonne.

Who supplies cobalt?

China leads the world in refined cobalt production at 70 percent of total global supply. The material it uses comes mostly from the DRC, as the country ranks eighth in terms of unrefined cobalt production.