Elon Musk is hoping that Tesla wont need to enter the mining business – Teslarati

While the idea of Tesla entering the mining business is quite exciting, the company would actually prefer it if it did not have to enter the industry. This was mentioned by Tesla CEO Elon Musk during his recent interview with a Tesla enthusiast.

While discussing Teslas projects in his interview on theGetting Stonedpodcast, Elon Musk was asked if the electric vehicle makers mining aspirations are on the back burner. Quite surprisingly, Musk explained that Tesla actually doesnt want to go into the mining segment, partly because of its limitations.

Well, wedontwant to go into the mining industry or the sort of refining industry because the limitation, I think, is actually more. For example, with lithium, its more lithiumrefinementthan it is the actual mining. So you better take the ore that contains lithium, and youve got to refine it and get it to battery-grade lithium hydroxide or lithium carbonate. And it has to be extremely pure. Otherwise, you could have a breakdown in the cell.

You cant have impurities in the cell because it would cause the cell to fail. So the challenge with a lot of the ingredients into lithium-ion batteries is theprocessing. Its not the fundamental rarity of lithium. Lithium is very common. Its one of the most common elements on earth. But youve got to turn it into battery-grade lithium and thats, thats where the chokepoint is, Musk said.

Musk also explained that the number of smart, hard-working people that Tesla could push to do important projects is limited. So for Tesla, it would be better to take on tasks that really make a difference in the companys efforts to push the needle on the sustainability transition.

So I hope we do not need to get into the mining business. Theres a limited number of smart, hard, working people that we can say, work on this problem or work on that problem. So (if) we have people work onthisproblem, they cant work onthatproblem. Theres not like some magical source of super talented people. Were not sitting around with our resources saying I wonder what more we can take on? We sort of focus on things that really make a difference, Musk said.

Interestingly enough, Musk mentioned at theFinancial Times Future of the Car 2022Conference back in May that its not out of the question for Tesla to buy a mining company if producing its own supply of electric cars would speed up the worldwide adoption of clean energy technologies. Back then, however, Musk gave the impression that Tesla would only enter the mining industry if it really had to.

Its not out of the question. We will address whatever limitations are on accelerating the worlds transition to sustainable energy. Its not that we wish to buy mining companies, but if thats the only way to accelerate the transition, then we will do that, Musk said. then.

While Musks recent comments may be interpreted as him walking back on previous statements, the CEO did specify back in May that Tesla is open to acquiring anexistingmining company. That scenario is a bit different than Tesla proactively entering the mining industry on its own even if alternatives are available.

Listen to Elon Musks recent comments on mining below.

Dont hesitate to contact us with news tips. Just send a message to simon@teslarati.comto give us a heads up.

Continue reading here:

Elon Musk is hoping that Tesla wont need to enter the mining business - Teslarati