3 Reasons Tesla Stock Could Still Make You Richer

Over the last 10 years, (NASDAQ: TSLA) stock has returned a jaw-dropping 2,900% to its long-term shareholders, making many millionaires -- and turning its largest shareholder, CEO Elon Musk, into a multibillionaire. And while few people will ever be lucky enough to get in on the ground floor of such a life-changing investment opportunity, Tesla's bull run looks far from over. New business verticals like lithium refining and artificial intelligence (AI) could eventually help power another long-term surge of growth and value creation, even if its automotive operations mature.

Vertical integration can sometimes lead to new revenue streams for a company. Amazon.com is a perfect example. In the early 2000s, the e-commerce giant started what would become Amazon Web Services primarily to handle its internal data storage and processing needs. Now, that business has grown to provide most of its operating income. Tesla might pull off a similar feat with its investments in lithium refining.

Lithium is a key component of electronic vehicle (EV) batteries because of the energy-storage density it allows. But while lithium is fairly abundant in nature, it is difficult to refine, leading to high prices and short supply. Tesla aims to partially address these challenges with a new facility in Robstown, Texas, that Musk says will produce enough refined lithium to make batteries for 1 million EVs by 2025.

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Source Fool.com