Tesla bought its own lithium mine in Nevada

A lithium mine in the Atacama Desert in Chile.

-

Tesla has just acquired the rights to operate a lithium mine.

It is located in the State of Nevada, United States, according to information collected by 

and relayed by

.

The electric car manufacturer will now be able to exploit more than 4,000 hectares of clay soil rich in lithium.

Problem: Lithium mining remains a very complex and expensive process.

Chief Executive Officer Elon Musk told shareholders on Tuesday Tesla has secured rights to 10,000 acres in Nevada where it aims to produce lithium from clay deposits using a process developed internally

https://t.co/8QyU6fE1SF

- JPR007 (@ jpr007) September 24, 2020

Batteries more than 50% cheaper

No company has yet succeeded in ensuring profitable production.

But Elon Musk is not worried.

Tesla's CEO reportedly told investors that his engineers had developed a "very sustainable" lithium extraction technique.

By operating this mine itself, Tesla intends to keep its promise to reduce the cost of its electric batteries.

At the shareholders' conference, Elon Musk announced the development of batteries that are more efficient and 56% cheaper than those in use today,

reports

.

To lower this cost, cobalt should be replaced by nickel, which is sold at a lower price.

Lithium will therefore be extracted from Nevada internally.

Goal ?

Eventually market a vehicle at "only" $ 25,000 (or 21,500 euros).

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