Tesla is considering building a lithium refinery in Texas. The potential plant on the US coast will process the metal needed for car batteries, according to an Aug. 22 application to Texas authorities.
If the facility is approved, construction could begin as early as the fourth quarter. Lithium could then be processed in Texas by the end of 2024. A possible alternative to the location in Texas is Louisiana, it said. Tesla would be the first automaker to invest directly in its own lithium refinery.
Tesla boss Elon Musk (51) had already explained a few months ago via Twitter
, that the American electric car maker could possibly go directly into the mining and refining business because of the rising lithium prices. One aspect of this could also be the new regulations for subsidies for electric cars in the United States who prefer locally made products.
Around 58 percent of all lithium worldwide is currently used in China refined. Other large deposits are in Chile, Argentina, Australia and the USA.
Tesla investors are reacting positively to plans for its own lithium refinery in Texas. The shares gained 1.4 percent.