Almost 19 years after its founding, Tesla has a car factory network that spans the globe.

LME three-month nickel tumbled as much as 14% to $27,020 a tonne just after Tuesday's market open.

Russia supplies about 10% of the world's nickel, 6% of its aluminum and around 3.5% of its copper. A ban on Russian metal could lead to shortages and further price surges at a time of rising inflation around the world.

The funds will be invested in a project at a salt flat called Salar de Hombre Muerto, located in the border between the northern Salta and Catamarca provinces.

Volkswagen will form joint ventures with Huayou Cobalt and Tsingshan Group to secure up to 120kt nickel and 15kt cobalt per year.

Lithium has soared nearly 500% in the past year.

Car manufacturers are trying to lure more customers just as government subsidies for cleaner vehicles fall away.

Investors are furious with the LME for allowing prices to soar 250% in less than two days.