Freyr is building its first lithium-ion battery factory in the far north of Norway and has announced plans for production in Finland and the US.

The world's largest aluminum producer outside China boosted its January-June core earnings by 37% to $1.8 billion amid higher aluminum prices. 

Musk made his comments as Europe is grappling with its worst energy crisis in decades.

The UK's lithium-ion battery fleet currently has about 1.9 gigawatts of capacity and will more than quadruple by the end of the decade.

Miners operating in Europe say prospects for getting projects underway look uncertain because of a lengthy permitting framework and fervent local opposition.