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.
European business groups representing consumers oppose any restrictions against Russian aluminum, saying they could put thousands of companies out of business.