Tesla said it expects to spend more than $1 billion annually on battery raw materials from Australia given the country's reliable mining industry and responsible production practices. Like lithium and nickel, it is poised to benefit from the development of supply chains for electric car batteries and the focus of the green energy era on the environment and social.
Denholm, who is Australian, said at an Australian Minerals Council event. without specifying a dollar number said, we expect our spending on Australian metals to increase to more than $1 billion annually over the next few years. Australian mining companies have a good reputation, great experience, and professionalism, and are favored by manufacturers who are increasingly concerned about meeting current and future ESG requirements. The bulk of the minerals needed to build electric cars.
Two administration officials told Reuters last month that the United States would then focus on domestically processing those minerals into battery parts, as part of a strategy designed to appease environmentalists, with Australia expected to benefit along with Canada and Brazil.
Australia's exports of shale lithium, known as spodumene, are expected to reach A$1 billion ($773 million) this year while its nickel exports are expected to reach A$4 billion, according to government figures.
Tesla also supplies batteries to Australia to store energy captured from rooftop solar panels that underpin reliability in its power grid. Australia has the world's highest per-capita density of rooftop solar panels.