General Motors appears to be securing its future for EVs with control over the supply of metals needed for batteries, a similar move that has paid off for Tesla.
General Motors appears to be securing its future for EVs with control over the supply of metals needed for batteries, a similar move that has paid off for Tesla. Deals in place between Vale and Tesla are likely to be honored and the stake by General Motors, if obtained, shouldn’t hurt existing relationships. The investment by GM could however underscore the necessity of Tesla to keep obtaining more sources for metals elsewhere. Tesla CEO Elon Musk also hinted at the company’s desire to mine its own metals such as lithium. The company submitted a proposal for a lithium refining facility in November. That facility in Texas has job postings that could indicate plans for the future. VALE Price Action: Vale shares are down 1.37% on Friday at $16.54 versus a 52-week trading range of $11.71 to $21.29.Read Next: Here's How Many Vehicles Tesla Has Delivered And Produced In Each Quarter Since 2019 Photo: Nanang Sugi via Shutterstock