Chime’s Slowdown Highlights Limits of Bank DisruptorsRead more

Exploration drilling at the Tamarack nickel deposit. Photo: Courtesy Talon Metals

The Electric Flash Analysis: Tesla Strikes First U.S. Nickel Deal, Increasing Its Battery Lead Over Ford, GM

Photo: Exploration drilling at the Tamarack nickel deposit. Photo: Courtesy Talon Metals

In one of the first deals to break China’s almost total grip on the global supply of battery metals, Tesla on Monday agreed to buy enough nickel from a Minnesota mine to equip about 1 million electric vehicles—roughly the same number of EVs it delivered to customers last year. The mine will also become one of the first U.S.-based sources of EV battery metals, a significant development as vehicle manufacturers try to move their supply chains closer to home. 

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