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A million electric cars a year? Yes, it is possible!
Tesla's lithium plant, described by CEO Elon Musk as a "money printing machine," is expected to launch earlier than planned.
In September 2022, it became known that Tesla plans to build a lithium purification plant on the Texas coast. The main purpose of the new plant is to produce lithium hydroxide to support Tesla's own battery cell production at the Gigafactory in Austin, Texas.
The company also aims to prove the effectiveness of its new low-cost processing system. If successful, the technology could be adopted by the entire industry and help drive the deployment of new lithium processing capacity, which is essential to support the growth of electric vehicles.
Earlier, Tesla confirmed its plans to invest $365 million in the lithium plant, which will provide jobs for about 165 permanent employees, as well as create another 250 jobs in construction over two years.
At a groundbreaking ceremony in May, CEO Elon Musk said the plant will produce enough top-quality lithium to produce about 1 million electric vehicles a year.
According to the latest data, construction is expected to be completed next year, and production is scheduled to start in 2025.
However, thanks to an update from Tesla's senior operations manager, Jason Bevan, it has been revealed that Tesla now plans to start operating the plant in the first half of 2024 and ramp up production in the second half of the year.
Bevan also added that he sees an opportunity for Tesla to expand its initial plan with this plant on the coast: "We have a site that is ideally suited for future expansion, so I think there is great scope for further economic impact, beyond the direct jobs that we will create."
This project deserves special attention, as it can significantly increase the production capacity for lithium processing in North America, which is currently limited.
Tesla's lithium plant, described by CEO Elon Musk as a "money printing machine," is expected to launch earlier than planned.
In September 2022, it became known that Tesla plans to build a lithium purification plant on the Texas coast. The main purpose of the new plant is to produce lithium hydroxide to support Tesla's own battery cell production at the Gigafactory in Austin, Texas.
The company also aims to prove the effectiveness of its new low-cost processing system. If successful, the technology could be adopted by the entire industry and help drive the deployment of new lithium processing capacity, which is essential to support the growth of electric vehicles.
Earlier, Tesla confirmed its plans to invest $365 million in the lithium plant, which will provide jobs for about 165 permanent employees, as well as create another 250 jobs in construction over two years.
At a groundbreaking ceremony in May, CEO Elon Musk said the plant will produce enough top-quality lithium to produce about 1 million electric vehicles a year.
According to the latest data, construction is expected to be completed next year, and production is scheduled to start in 2025.
However, thanks to an update from Tesla's senior operations manager, Jason Bevan, it has been revealed that Tesla now plans to start operating the plant in the first half of 2024 and ramp up production in the second half of the year.
Bevan also added that he sees an opportunity for Tesla to expand its initial plan with this plant on the coast: "We have a site that is ideally suited for future expansion, so I think there is great scope for further economic impact, beyond the direct jobs that we will create."
This project deserves special attention, as it can significantly increase the production capacity for lithium processing in North America, which is currently limited.
