The EV giant considered acquiring part of Glencore, but negotiations failed on Tesla's concerns about the Swiss miner's coal business, FT.com reported.
Transforming the metals and mining, building materials, and plastics industries to make them compatible with sustainability targets will require increasing annual spending from $5.7 trillion to $9.2 trillion.
The technology is housed in a self-contained unit and takes the lithium chloride feed produced by the company’s existing direct lithium extraction (DLE) demonstration plant.
Sumitomo wants to start making materials for a cheaper type of battery -- containing no nickel -- that’s poised for global popularity after storming the world’s top EV market, China.