Tesla is turning to Mozambique for a key component in its electric car batteries in what analysts believe is a first-of-its-kind deal designed to reduce its dependence on China for graphite.
“It starts at the top with geopolitics,” Moores said. “The U.S. wants to build enough capacity domestically to be able to build within the USA. And this deal will permit Tesla to source graphite independent from China.”
Tesla is making almost a million electric cars per year, and sourcing enough batteries is its biggest constraint, he said. For instance, Tesla has a deal with Panasonic to make battery cells at the automaker’s battery factory near Reno, Nevada. China, though, is Tesla’s biggest global market. It has a giant factory near Shanghai and sells about 450,000 vehicles per year there, compared with about 350,000 in the U.S., Abuelsamid said.
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