Tesla has signed a deal with Magnis Energy Technologies, an innovative battery technology company based in Australia. This agreement could prove to be a major boon for the automaker.
Under the terms of the agreement, Tesla will purchase a minimum of 17,500 tons of anode active materials (AAM) per year starting in February 2025, with an option to purchase up to 35,000 tons per year for a minimum three-year term at a fixed price. The AAM will be produced from ultra-high purity natural flake graphite sourced from Magnis’ graphite mine in Tanzania.
The agreement is conditional on Magnis securing a final location for its commercial AAM facility by June 2023, producing AAM from a pilot plant by March 2024, and commencing production from the commercial AAM facility by February 2025.
Magnis is more than just a graphite mining company. It is also part of the Imperium3 New York consortium of companies working to build a lithium-ion battery cell gigafactory in New York, and is a shareholder and partner with C4V, a New York-based battery cell technology company.
These links to US-based battery projects could be invaluable to Tesla as it looks to secure a large number of battery cells to support its plan to build 20 million electric vehicles per year by 2030. The agreement with Magnis could prove to be an important step in achieving this goal.
FAQ
Q1. When will electric cars be available in the UK?
A1. Electric cars are already available in the UK and can be purchased from a variety of dealerships.
Q2. Where can I find electric car charging stations near me?
A2. You can find electric car charging stations near you by using online maps or apps such as PlugShare or ChargePoint.
Q3. Which electric car is the best?
A3. The best electric car depends on your individual needs and preferences. Some popular models include the Tesla Model 3, Nissan Leaf, and Chevrolet Bolt EV.
