Tesla (TSLA) breaks ground on $375 million Texas lithium refinery
Tesla has begun construction on its $375 million lithium refinery in Texas.
Tesla spent years looking for the right destination to build a new lithium refinery and found one in Corpus Christi, Texas. Today, the electric vehicle manufacturer officially broke ground in Texas, and construction on the $375 million Texas lithium refinery.
Tesla broke ground on its new lithium refinery this afternoon in Corpus Christi, Texas. CEO Elon Musk and Governor Greg Abbott were both present at the event. Tesla first announced its intentions to build the new factory back in September 2022. Specifically, this factory will be used to lithium hydroxide, which is used to manufacture batteries for Tesla vehicles. The need for more lithium refinery is quite pertinent to Tesla’s business. Elon Musk recently joked that people should learn to refine lithium instead of making picture-sharing apps.
Tesla livestreamed a ceremony to celebrate the beginning of construction on its new Texas factory. During the stream, Tesla leadership and politicians spoke brightly about the new factory, boasting that it will improve the local economy and create plenty of new jobs. Elon Musk provided a timeline for when the “We’re aiming to finish construction next year, and reach full production a year later.”
He also stated that Tesla’s goal for the factory is to produce a million vehicles worth of battery-grade lithium, with the potential to expand beyond that. Earth-moving vehicles could be seen in the background, preparing the land for construction. For future updates on Tesla’s new Texas factory, or other aspects of the EV business, stick with Shacknews.
Donovan Erskine posted a new article, Tesla (TSLA) breaks ground on $375 million Texas lithium refinery