Tesla is turning to Mozambique for a key component in its electric car batteries in what analysts believe is a first-of-its-kind deal designed to reduce its dependence on China for graphite.
in what analysts believe is a first-of-its-kind deal designed to reduce its dependence on China for graphite.
The deal is part of Tesla’s plan to ramp up its capacity to make its own batteries so it can reduce its dependence on China, which dominates global graphite markets, said Simon Moores of Benchmark Mineral Intelligence, a United Kingdom battery materials data and intelligence provider.“It starts at the top with geopolitics,” Moores said. “The U.S. wants to build enough capacity domestically to be able to build within the USA.
It comes as every major automaker is racing to get into electric vehicles amid concerns about climate change. A new battery factory that the company is building in its new hometown of Austin will allow it to get closer to self-sufficiency, but Moores said it is still buying batteries from other manufacturers, “and that won’t change this decade.”
It’s unlikely that the Tesla deal with Syrah will rankle the Chinese government because China has plenty of markets for its graphite, including increased domestic electric vehicle production, Abuelsamid said.
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