Tesla (TSLA) breaks ground on $375 million Texas lithium refinery
Tesla has begun construction on its $375 million lithium refinery in Texas.
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Tesla has begun construction on its $375 million lithium refinery in Texas.
Elon Musk and Zachary Kirkhorn said they have 'a lot of fish to fry' than lithium refining, but nobody else is doing it.
Tesla announced plans to establish a Megafactory in China that will prioritize production of Megapack batteries for its vehicles.
In a massive investment deal, GM will look to extract enough lithium from Nevada's Thacker Pass mine to manufacture 1 million new electric vehicles.
The plans for Tesla's expanded facilities seem to focus heavily on battery production and testing.
The Inflation Reduction Act (IRA) incentivizes companies like Tesla to focus on domestic manufacturing of battery cells, rather than overseas production.
The potential plant would process and refine lithium hydroxide for use in Tesla's battery manufacturing facilities.