Chilean company SQM and Tesla are considering investing in the production of Lithium prior to the increase in the production rate of Teslas electric car Model 3, according to the Financial Times.
The electric car manufacturer can undertake to build a factory in Chile to produce the lithium needed for the batteries, "said Eduardo Bitran, Chilean Development Authority Corfo, to the Financial Times.
- With a growing range of lithium, Chile is the key to any company that wants to become global in electric car manufacturing, said Eduardo Bitran.
- Being close to Chile or having a strategic alliance in Chile becomes a strategic factor for a company like Tesla, he said.
SQM resolved recently a long-term conflict with Corfo, which means that the company can now quadruple lithium production through 2026.
Tesla has had difficulty meeting the production targets for Model 3, due in part to problems with battery production in Nevada.
Source: Financial Times
