Bulletin Empire
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate
Bulletin Empire
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate
No Result
View All Result
Bulletin Empire
No Result
View All Result

Tesla’s Plans to Build a Lithium Refinery in Texas this Year

Logan by Logan
September 9, 2022
in Business
0
Tesla’s Plans to Build a Lithium Refinery in Texas this Year

Image Source- Getty Images

399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

The world’s largest manufacturer of electric vehicles, Tesla, is examining the viability of building a refinery for lithium hydroxide off the coast of Texas.

According to a recently published letter to the Texas Comptroller’s Office, Tesla stated that the factory would concentrate on the creation of “battery-grade lithium hydroxide” and be “the first of its kind in North America.”

According to the application, the business would transform “raw ore material into an usable state for battery production” and then transport lithium hydroxide to multiple Tesla battery production facilities.

Elon Musk, the CEO of Tesla, stated in April that the company could need to enter the lithium refining business because the price of the metal had “gone to insane levels.”

An index used for tracking lithium prices published by Benchmark Mineral Intelligence shows a 120% increase in price this year.

The action by Tesla is probably an attempt by the company to diversify the sources of the lithium and batteries it uses. The United States only controls 1% of the world’s processing and refining of lithium, while China controls more than half of it.

The business stated that it is also taking into consideration as part of its Texas application “other battery materials processing, refining and manufacturing and ancillary manufacturing operations in support of Tesla’s sustainable product line.”

Image Source- Bloomberg

Construction may start in the fourth quarter of 2022 if Tesla’s proposal is accepted, the company said. By the fourth quarter of 2024, the project will be in “commercial operations.”

Tesla stated that “only very preliminary development activities have begun” and that it is still “evaluating the feasibility of this project.”

According to Tesla, no contracts have been reached or signed for engineering, construction, or procurement, and no licenses have been received.

According to Musk’s company, the project may be situated “anywhere with access to the Gulf Coast shipping channel.” Tesla claimed that it is considering a rival site in Louisiana.

Tesla said that Texas’s law must grant them tax benefits in order for this project to be financially feasible.

“In the case of the investment on this proposed project in Texas, the decision will be based on a number of commercial and financial considerations, including the ability to obtain relief regarding local property taxes,” on the basis of the application.

For batteries used in everything from electric automobiles to cellphones, lithium is an essential element. Washington has been concerned that Beijing could cut off vital supply of lithium and other elements due to the strategic importance of such rare earth metals and China’s supremacy in their mining.

To catch up with China, the United States is trying to expand its own rare earth mining and refining sector.

Tags: battery-grade lithium hydroxideBMIcost of the metalElectric car giant Teslaelon muskfeasibility of a lithium hydroxide refining facilitygone to insane levelsprice of lithium is up 120% this yearsupply of its lithium and battery productionteslaTesla batteryTesla battery manufacturing factoriesTesla CEOTesla CEO Elon MuskTesla could start building a lithium refinery for EV batteries in Texas this yearTexas Comptroller’s Officeusable state for battery production
Previous Post

BYD plans to build a factory in Thailand, providing electric cars for a greener future

Next Post

White House Warns that Crypto Mining Could Slow Down Progress on Climate Change

Next Post
White House Warns that Crypto Mining Could Slow Down Progress on Climate Change

White House Warns that Crypto Mining Could Slow Down Progress on Climate Change

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

3 Smart Steps to Take If You Have $1,000 in the Bank
Make Money

3 Smart Steps to Take If You Have $1,000 in the Bank

by Logan
October 20, 2022
0

You're missing out if you keep a lot of money in your bank account. A significant accomplishment is amassing $1,000...

Read more
8 Legit Ways to Make Extra Cash

8 Legit Ways to Make Extra Cash

October 20, 2022

Category

  • Arts
  • Business
  • Economy
  • Entertainment
  • Finance
  • Lifestyle
  • Make Money
  • Politics
  • Real Estate
  • Science
  • Sports
  • Stock Markets
  • Technology
  • Uncategorized
  • World

Follow Us

  • Contact Us
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms & Conditions

© 2022 Bulletin Empire - All rights reserved by Bulletin Empire.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Finance
  • Science
  • Technology
  • Arts
  • Lifestyle
  • Real Estate

© 2022 Bulletin Empire - All rights reserved by Bulletin Empire.