On January 11, Tesla announced on Monday that it had signed the company's first nickel supply agreement in the United States, choosing Talon Metal's Tamarack mine project in Minnesota because Tesla plans to produce electric vehicle battery metal in a more environmentally friendly way. Under the agreement, Tesla will buy 75,000 tons of nickel over 6 years and will also buy cobalt and iron ore from Talon.
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Since the development of new energy electric vehicles, the prices of various raw materials related to power batteries have also soared, and nickel is the most common raw material in lithium batteries. Although pure electric vehicles currently account for less than 4% of the global automotive industry, it is undeniable that vehicle electrification is the future trend.
As early as last year, Tesla has also signed a nickel supply contract with BHP, the world's largest nickel miner, and at the beginning of this year, Tesla signed a contract with Talon Metal to buy 75,000 tons of nickel in the next 6 years, after all, Tesla plans to mass-produce batteries this year, so a large amount of raw materials nickel is urgently needed.
There is also a reason that Tesla's move or to make reserves in advance for the price increase of raw materials that may come later.