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7/22, 5:53 AM (Source: TeleTrader)
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Tesla reaches nickel supply deal with BHP

BHP announced that it signed an agreement with Tesla Inc. to provide the carmaker with nickel used in batteries.

In addition to the supply agreement, the two companies said they will collaborate on ways to make the battery supply chain more sustainable and identifying ways related to energy storage to lower their respective operations' carbon emissions.

"We are delighted to sign this agreement with Tesla," BHP Chief Commercial Officer Vandita Pant said, adding that "demand for nickel in batteries is estimated to grow by over 500 per cent over the next decade, in large part to support the world's rising demand for electric vehicles."

Breaking the News / MD