Tesla eyes lithium hydroxide facility on Gulf Coast

Shanghai, China - August 1, 2020: Exterior view of automobile plant Tesla Gigafactory 3 located in Pudong District, Shanghai, China.

Electric car giant Tesla is evaluating the feasibility of a lithium hydroxide refining facility on the Gulf Coast of Texas, reports CNBC.

Tesla said the plant would be focused on the development of battery-grade lithium hydroxide and be the first of its kind in North America, according to a newly released letter to the Texas Comptroller’s Office.

The company would process “raw ore material into a usable state for battery production” then ship the lithium hydroxide to various Tesla battery manufacturing factories, the application says.

The price of lithium is up 120% this year, according to Benchmark Mineral Intelligence. Read the entire story.