Battery production, and more specifically lithium, is the “fundamental limiting factor” for electric-vehicle adoption worldwide, Musk said on an earnings call.
Lithium prices took a breather during the first half of April as lockdowns in China make trading difficult, but the lull is unlikely to last, says Benchmark Mineral Intelligence.
Bolivia has 9 million tonnes of identified lithium resources buried beneath its salt flats, yet the country has had barely any production of lithium chemicals.