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16:20 CT – A longtime retail investor asks about Tesla’s plans to secure lithium supply. 16:08 CT – The shareholder now asks if Tesla would be open to extending its vehicle’s financing terms. Elon Musk notes that the banks are the ones that are deciding on its vehicles’ financing.
Elon highlights that Tesla is limited with the supply chain shortages, and not just chips either. So even if the company produces the Semi and Cybertruck now, there won’t be any volume anyway since the supply chain is strained. The CEO also adds that Tesla’s finances should be even better, especially as FSD matures.
For example, two-thirds of all cobalt production happens in the Democratic Republic of the Congo (DRC). However, for various reasons (including limited infrastructure, financing and a lack of appropriate policies), refining takes place in other countries, mainly Belgium, China, Finland, Norway and Zambia, which reap the economic benefit.
The Democratic Republic of the Congo (DRC) can leverage its abundant cobalt resources and hydroelectric power to become a low-cost and low-emissions producer of lithium-ion battery cathode precursor materials, according to a new study on a unified African supply chain by BloombergNEF (BNEF).
Volkswagen says that it is actively engaging in improving artisanal cobalt mining conditions in the Democratic Republic of Congo (DRC) as well as the living conditions for people in the surrounding communities. The project is being implemented by GIZ and financed by BASF, BMW Group, Google, Samsung Electronics, Samsung SDI and Volkswagen.
Ford Motor Company, Huayou Cobalt, IBM, LG Chem and RCS Global will use blockchain technology to trace and validate ethically sourced minerals in an effort to support human rights and environmental protection while helping infuse more transparency into global mineral supply chains. Goldcorp Inc., ING Bank, Kutcho Copper Corp.,
This would bring Indonesia into second place for cobalt mining, after the Democratic Republic of Congo. Although there was scepticism over these projects initially, financing from China has helped them be a success, Benchmark says. Indonesia’s nickel and cobalt are key components in global lithium ion battery supply chains.
As part of a cross-industry initiative, the BMW Group, BASF SE, Samsung SDI and Samsung Electronics have launched a joint cobalt pilot project in the Democratic Republic of the Congo. This fully privately financed project seeks to pilot an approach to address challenges in artisanal mining.
The trading agreement includes the provision of finance by Trafigura to fund the creation of strictly controlled artisanal mining zones, the installation of ore purchasing stations and costs related to the transparent and traceable delivery of cobalt hydroxide to Trafigura on an export cleared basis.
BASF SE is contributing to finance the study. Both BMW Group and BASF SE are already working successfully together with other partners in the “Cobalt for Development” project in the Democratic Republic of the Congo. Two-thirds of the world’s lithium reserves are found in Latin America.
The turmoil is likely to have long-term ramifications for supply, and stands in stark contrast to the growing emphasis by governments on securing future access to critical minerals. Yet supply charged ahead as demand growth underwhelmed, and the result has been a price freefall. Chemaf Resources Ltd. Australia’s Core Lithium Ltd.
Canada last fall announced a tougher policy on critical mineral investment – particularly from dominant producer China – as it worked to shore up its domestic supply of critical minerals after the global pandemic exposed supply chain problems that caused major production disruptions. Last year, a U.S.
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