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IPFS News Link • Business/ Commerce

It Appears Tesla May Get Into The Mining Business


Elon Musk isn't afraid to buck conventional wisdom about sticking to your core business - Tesla builds its own batteries and even seats, and it has branched out into stationary storage, solar panels, and flame throwers. During Tesla's most recent shareholder meeting, Elon said the company might get into another line of business - mining. He implied that taking control of the supply chain for the raw minerals used in its batteries might be a necessity as Tesla scales up production and adds more vehicles to its lineup.

As TechCrunch reported, Musk spoke at the meeting about plans for the Tesla Semi and the much-anticipated Tesla pickup truck, and pointed out that, to get those new vehicles on the road, Tesla would need to manufacture a lot of lithium-ion battery cells. "There's not much point in adding product complexity if we don't have enough batteries," he said. (You can listen to Elon's comments and additional analysis via the Tesla Stock Channel, scroll below for more.)