Tesla Is Exploring Building a Lithium Refining Plant in Texas
Electric-vehicle (EV) pioneer Tesla (NASDAQ: TSLA) is exploring the feasibility of developing a battery-grade lithium hydroxide refinery on the Gulf Coast of Texas or Louisiana, according to its late-August filing of an application seeking a property tax break in Texas.
Like other EV makers, Tesla's supply chain is dependent on lithium -- which has soared in price due to tight supply -- because it's used to produce the lithium-ion batteries that power EVs. Tesla also uses these batteries in its energy-storage products.
Here's what investors should know.
Source Fool.com
