Tesla Spend on Australian Minerals Has Tripled in Two Years, Chair Says
September 05 2023 - 01:37AM
Dow Jones News
By Rhiannon Hoyle
Tesla is spending more than three times as much on Australian
minerals than it did in 2021, chair Robyn Denholm said Tuesday.
The electric-vehicle maker expects to spend more than 4.3
billion Australian dollars (US$2.8 billion) on Australian minerals
in 2023, up from A$1.3 billion in 2021, Denholm told a
mining-industry conference in Canberra.
"Demand for Australian minerals will only continue to rise," she
said, highlighting the country's large reserves of commodities such
as lithium, the battery ingredient of which Australia is the
world's top supplier.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 05, 2023 01:22 ET (05:22 GMT)
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