Tesla Gets New Nickel Supplier: Everything You Want To Know
Tesla Gets New Nickel Supplier: Everything You Want To Know Why It’s Important: Vale’s metals unit is one of the largest players in copper and nickel operations.Thanks to its size in the metals business, Vale secured supply deals with several leading automotive companies working on EVs. The company has supplied nickel to Tesla for years for its EV batteries.In 2022, Vale also landed a deal with General Motors for nickel supply.Ownership of the new Vale metals venture by General Motors could put question marks on if Tesla will be able to keep renewing supply deals in the future or if General Motors will get the first crack at supply over rivals. The interest in a stake in Vale by General Motors came after it announced a $650 million deal with Lithium Americas Corp LAC to develop the largest U.S. lithium deposit at the Thacker Pass mine in Nevada. Under the terms of the deal, GM will have exclusive access to the first phase of production set to begin in 2026. The supply...