Cybertruck: Musk needs mines At the low end of Tesla’s Cybertruck production target – 250,000 – mining quickly becomes a weightier matter for the company now worth just $582 billion in New York after a horrendous start to 2024.
Add in those Cybertruck owners who opt for an extra pack in the back and there are tonnes of reasons why Tesla could consider upping its mining investments.
Under this scenario – still highly conservative given the immense interest in the Cybertruck – Tesla needs the entire nickel output of Glencore’s Murrin Murrin mine in Western Australia and over half its cobalt.
Fulfill the million preorders and Tesla needs to offtake 100% of Glencore’s annual nickel production, which the Swiss miner said will be between 80,000 and 90,000 tonnes in 2024 and everything Mutanda produced last year.
Two million? Hope that no-one orders the range extender and Cybertruck assembly lines would need to add half a Norilsk for the nickel (presuming it’s allowed into Texas then) and two-thirds of Glencore’s entire cobalt production.
Finished stainless steel is about 8%-10% nickel – so there’s that too.
https://www.mining.com/cybertruck-musk-needs-mines/