Tesla Looking to Secure Nickel Supply, Report Says

Tesla (NASDAQ: TSLA) is looking to have an interest in a Canadian mine to secure a supply of low-carbon nickel, according to a Reuters report. The battery electric vehicle (BEV) maker is in talks with Canadian mining company Giga Metals (OTC: HNCKF) to help develop a large mine to secure a source of environmentally friendly nickel, the report said.

The car maker has been a proponent of sustainability and wants its supply chain to endorse it. In July, Tesla CEO Elon Musk said, "Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way."

Source Fool.com