Tesla Motors (NASDAQ: TSLA) Chairwoman just announced a huge deal…
Spending $1 billion annually to secure battery metals from Australian companies according to Reuters.
The agreements with multiple companies will supply over 75% of the metals for Tesla’s EV batteries.
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“We expect our spend on Australian minerals to increase to more than $1 billion per year,” explained Tesla’s Robyn Denholm.
Tesla doesn’t manufacture any cars or batteries in Australia.
However, the company is sourcing lithium and nickel from the resource rich country. And raw lithium is then refined in China before making its way into Tesla’s EV batteries.
Tesla desperately wants to source battery metals such as lithium from North America.
Getting lithium, nickel and other metals from North America could be far less expensive. And it could also be better for the environment – which is a priority for the company.
That’s why the company has or is exploring…
- Acquiring one Nevada lithium stock with $1 billion of this metal
- Partnering with a Canadian company with 5.2 billion pounds of nickel
- An agreement to source lithium from a Nevada operator with 9,500 acres
Plus, the company recently announced plans to create its own lithium mining operation.
“We got rights to a lithium claim deposit in Nevada – over 10,000 acres,” explained CEO Elon Musk at Tesla’s Battery Day event.
Tesla plans to increase its battery cell production to 10 GWh in 2021… 100 GWh in 2022… and 3,000 GWh in 2030.
That’s a 300x increase by the end of this decade!
One new American lithium stock could be part of the solution.
The company has secured over 4,000 acres of lithium claims in Nevada’s Clayton Valley. And these claims are in close proximity to the Albemarle (NYSE: ALB) Silver Peak Mine.
This is the ONLY operating lithium mine in the U.S.
America’s newest lithium stock just IPO’d. And there’s still time to claim shares as an early investor – BEFORE it potentially takes off!
These shares are currently priced LESS than $1.00.
However, I don’t expect this incredible deal to last much longer.
In the end – only the early investors stand to see the biggest gains.
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Yours in Wealth,