Tesla Inc is open to buying a mining company if producing its own supply of electric vehicle (EV) metals would speed up worldwide adoption of clean energy technologies, Chief Executive Officer Elon Musk said on Tuesday.
Concern is mounting across the EV industry that there may not be enough supply of lithium, nickel, copper, and other metals to match demand later this decade, fueling questions about whether Tesla would consider jumping into the mining sector.
“It’s not out of the question,” Musk told the FT Future of the Car 2022 conference. “We will address whatever limitations are on accelerating the world’s transition to sustainable energy. It’s not that we wish to buy mining companies, but if that’s the only way to accelerate the transition, then we will do that.”
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