Tesla and other electric vehicle manufacturers rely heavily on a few different minerals. One of them, lithium, is largely mined, refined
The International Energy Agency estimates the value of lithium sales to increase 20-fold in the decade leading up to 2030, and China is already leading the world’s lithium market. Additionally, Tesla gets most of its lithium from the country, with some of it coming from companies with Argentinian mining operations. Still, estimates hold that China refines more than half of the world’s lithium.
Still, Gavekal also says that the trade war lodged by the Trump administration against China and Brazil has affected how each country views US automakers — including Tesla. For now, China’s lithium advantage will mean continued price increases, and Tesla’s continued reliance on the country for lithium, alongside several other EV makers.
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