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Tesla & Core Lithium extend agreement until October 2022 Tesla & Core Lithium extend agreement until October 2022

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Tesla & Core Lithium extend agreement until October 2022

Credit: Tesla

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Tesla and Core Lithium agreed to extend their lithium offtake agreement. Core Lithium made the announcement on Monday, August 29, 2022 (AEST) according to Kalkine Media. The two companies agreed to extend the offtake term sheet until October 26, 2022, which will allow both to finalize discussions for the binding offtake agreement.

Under the agreement, Core Lithium will provide Tesla with up to 110,000 dry metric tonnes of lithium spodumene concentrate produced at its Finnis Lithium Project for four years. Production of the concentrated mineral starts in 2023. Tesla will also support its supplier with the development of lithium chemical processing capacity.

In March, both companies entered into a binding term sheet for the supply of lithium. The term sheet was originally expected to be completed by August 27, 2022. In the earlier press release, Core Lithium’s managing director, Stephen Biggins said that the company was “thrilled” to reach the agreement with Tesla. He also said that they looked forward to growing the relationship.

Lithium market expected to grow

Earlier this month, Grand View Research published a new report stating that the lithium market had not only already doubled in size but that the market is expected to expand further. It’s projected to grow at a compound annual growth rate (CAGR) of 15% from 2022 to 2030.

The report noted that the demand for EVs is projected to boost the volume of lithium-ion batteries and accelerate the market growth with the automotive sector being at the center of that growth. Although there’s plenty of lithium, the limitation lies with the refining industry. Elon Musk brought this up in my own interview with him in July.

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“Well, we don’t want to go into the mining industry or the sort of refining industry because the limitation, I think, is actually more. For example, with lithium, it’s more lithium refinement than it is the actual mining. So you better take the ore that contains lithium, and you’ve got to refine it and get it to battery-grade lithium hydroxide or lithium carbonate. And it has to be extremely pure. Otherwise, you could have a breakdown in the cell.”

Note: Johnna is a Tesla shareholder and supports its mission. 

Your feedback is important. If you have any comments, or concerns, or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter @JohnnaCrider1

Elon Musk

Tesla says it denied Musk CEO replacement report before it was published

Tesla says it responded to the WSJ’s request for comment, denying that it was in search of a new CEO to replace Elon Musk.

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(Credit: Tesla)

Tesla said that it denied seeking a replacement for CEO Elon Musk before a report was published claiming the company was considering a new frontman.

Last night, The Wall Street Journal reported that Tesla’s Board of Directors was looking for Musk’s replacement after he had devoted too much time to his role within the government. The publication revised its headline to the report no fewer than five times, initially stating the company was still seeking a replacement.

By the time the headline revisions were complete, it had outlined that Tesla had looked for a replacement a month ago, but had stopped its search following Musk’s commitment to Tesla during the company’s earnings call last month.

Shortly after the report surfaced, Board of Directors chairwoman Robyn Denholm officially issued a statement on behalf of Tesla:

“Earlier today, there was a media report erroneously claiming that the Tesla Board had contacted recruitment firms to initiate a CEO search at the company. This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.  – Robyn Denholm.”

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Tesla Board Chair slams Wall Street Journal over alleged CEO search report

Interestingly, Denholm’s statement indicates it had responded to a request for comment from the Wall Street Journal before the report was published. This is especially interesting because Tesla does not typically respond to media outreach, as it dissolved its media department several years ago.

Tesla typically makes its statements publicly on X.

Musk also responded to the report, indicating that the WSJ had committed an “extremely bad breach of ethics” by publishing a “deliberately false article” that did not include Tesla’s “unequivocal denial beforehand.”

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Robotaxis are already making roads safer, Waymo report reveals

Waymo Driver is already reducing severe crashes and enhancing the safety of vulnerable road users.

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Waymo hires former Tesla Executive 
(Credit: Waymo)

Industry leaders such as Elon Musk have always maintained that autonomous robotaxis will make roads safer. A recent blog post from Waymo about the safety of its self-driving cars suggests that Musk’s sentiments are on point.

Way More Safety

Waymo Driver is already reducing severe crashes and enhancing the safety of vulnerable road users. As per a new research paper set for publication in the Traffic Injury Prevention Journal, Waymo Driver had outperformed human drivers in safety, particularly for vulnerable road users (VRUs).

Over 56.7 million miles, compared to human drivers, Waymo Driver achieved a 92% reduction in pedestrian injury crashes. It also saw 82% fewer crashes with injuries with cyclists and 82% fewer crashes with injuries with motorcyclists. Waymo Driver also slashed injury-involving intersection crashes by 96%, which are a leading cause of severe road harm for human drivers. Waymo Driver saw 85% fewer crashes with suspected serious or worse injuries as well.

What They Are Saying

Mauricio Peña, Waymo’s Chief Safety Officer, was optimistic about Waymo Driver’s results so far. “It’s exciting to see the real positive impact that Waymo is making on the streets of America as we continue to expand. This research reinforces the growing evidence that the Waymo Driver is playing a crucial role in reducing serious crashes and protecting all road users,” the Chief Safety Officer noted.

Jonathan Adkins, Chief Executive Officer at Governors Highway Safety Association, also noted that Waymo’s results are very encouraging. “It’s encouraging to see real-world data showing Waymo outperforming human drivers when it comes to safety. Fewer crashes and fewer injuries — especially for people walking and biking — is exactly the kind of progress we want to see from autonomous vehicles,” Adkins stated.

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Tesla hints at June 1 launch of Robotaxi platform in Austin

Tesla has hinted at a potential launch date for the Robotaxi service in Austin, Texas.

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tesla robotaxi app on phone
Credit: Tesla

Tesla just dropped its biggest hint yet about the potential launch date of its Robotaxi ride-hailing platform in Austin, Texas, shedding more light on when to expect it to take off.

In preparation for the ride-hailing service to launch, Tesla has been in talks with the City of Austin for months. It has also spent recent months bolstering its Full Self-Driving suite, aiming for it to handle initially supervised rides with the use of teleoperators to keep things safe and dependable, at least early on.

The company has also said that it expects the Robotaxi service, which will drive passengers in Tesla Model Y vehicles to start, to launch in Austin in June. However, Tesla has not given an exact date.

Now, Tesla is hinting that Robotaxi could launch on June 1, based on a very vague X post it published on May 1:

Of course, this is extremely speculative. However, it’s the first time Tesla has made any suggestions about a potential launch date, so it’s worth taking it seriously.

While the automaker has often missed timelines in the past, most notably the launch of a “feature-complete” Full Self-Driving platform, this is the first time we’ve seen Tesla be so adamant and truly reiterate a target date.

Tesla has not shied away from this June date for the Robotaxi launch yet, something that is worth noting as we move closer to June. All signs point toward Tesla being able to come through on this timeline, and it could be one of its biggest accomplishments yet on the grand scheme of things. The Robotaxi rollout will be controlled and small to start, the company noted on its most recent Earnings Call.

CEO Elon Musk said:

“The team and I are laser-focused on bringing robotaxi to Austin in June. Unsupervised autonomy will first be solved for the Model Y in Austin.”

At first, it also seems as if the first Robotaxi rides will be available to a select group, as Musk said the ability to order one will not be available to the general public until later in the month. He also said the initial fleet will be between 10 and 20 vehicles:

“Yeah. We’re still debating the exact number to start off on day one, but it’s, like, I don’t know, maybe 10 or 20 vehicles on day one. And watch it carefully. They scale it up rapidly after that. So, we want to make sure that you’re paying very close attention the first time this happens. But, yeah, you will be able to — end of end of June or July, just go to Austin and order a Tesla for autonomous drive.”

While the June 1st date of the Robotaxi launch is extremely speculative, Tesla seems convinced that its vehicles could already handle this task. It would be something to see them come through on this date, especially on the first day of the month.

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