The U.S. will then focus on processing those metals domestically into battery parts, part of a strategy designed to placate environmentalists, two administration officials with direct knowledge told Reuters last month. Tesla said it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices. "We expect our spend on Australian minerals to increase to more than $1 billion per annum for the next few years," Denholm, an Australian, told a Minerals Council of Australia event. Tesla already sources three quarters of its lithium feedstock from Australia and over a third of its nickel, Denham said, without specifying a dollar figure. Tesla also supplies batteries to Australia to store energy captured from rooftop solar panels which shore up reliability in its energy network.

Source: The Hindu June 03, 2021 06:35 UTC