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Elon Musk is hoping that Tesla won’t need to enter the mining business
While the idea of Tesla entering the mining business is quite exciting, the company would actually prefer it if it did not have to enter the industry. This was mentioned by Tesla CEO Elon Musk during his recent interview with a Tesla enthusiast.
While discussing Tesla’s projects in his interview on the Getting Stoned podcast, Elon Musk was asked if the electric vehicle maker’s mining aspirations are on the back burner. Quite surprisingly, Musk explained that Tesla actually doesn’t want to go into the mining segment, partly because of its limitations.
“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.
“You can’t have impurities in the cell because it would cause the cell to fail. So the challenge with a lot of the ingredients into lithium-ion batteries is the processing. It’s not the fundamental rarity of lithium. Lithium is very common. It’s one of the most common elements on earth. But you’ve got to turn it into battery-grade lithium and that’s, that’s where the chokepoint is,” Musk said.
Musk also explained that the number of smart, hard-working people that Tesla could push to do important projects is limited. So for Tesla, it would be better to take on tasks that really make a difference in the company’s efforts to push the needle on the sustainability transition.
“So I hope we do not need to get into the mining business. There’s a limited number of smart, hard, working people that we can say, ‘work on this problem or work on that problem.’ So (if) we have people work on this problem, they can’t work on that problem. There’s not like some magical source of super talented people. We’re not sitting around with our resources saying ‘I wonder what more we can take on?’ We sort of… focus on things that really make a difference,” Musk said.
Interestingly enough, Musk mentioned at the Financial Times Future of the Car 2022 Conference back in May that it’s “not out of the question” for Tesla to buy a mining company if producing its own supply of electric cars would speed up the worldwide adoption of clean energy technologies. Back then, however, Musk gave the impression that Tesla would only enter the mining industry if it really had to.
“It’s not out of the question. We will address whatever limitations are on accelerating the world’s transition to sustainable energy. It’s not that we wish to buy mining companies, but if that’s the only way to accelerate the transition, then we will do that,” Musk said. then.
While Musk’s recent comments may be interpreted as him walking back on previous statements, the CEO did specify back in May that Tesla is open to acquiring an existing mining company. That scenario is a bit different than Tesla proactively entering the mining industry on its own even if alternatives are available.
Listen to Elon Musk’s recent comments on mining below.
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Tesla Semi expands pilot program to Texas logistics firm: here’s what they said
Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.
Tesla has expanded its Semi pilot program to a new region, as it has made it to Texas to be tested by logistics from Mone Transport. With the Semi entering production this year, Tesla is getting even more valuable data regarding the vehicle and its efficiency, which will help companies cut expenditures.
Mone Transport operates in Texas and on the Southern border, and it specializes in cross-border U.S.-Mexico freight operations. After completing some rigorous testing, Mone shared public results, which stand out when compared to efficiency metrics offered by diesel vehicles.
“Mone Transport recently had the opportunity to put the Tesla Semi to the test, and we’re thrilled with the results! Over 4,700 miles of operations at 1.64 kWh/mile in our Texas operation. We’re committed to providing zero-emission transportation to our customers!” the company said in a post on X.
🚨 Mone Transport just recorded an extremely impressive Tesla Semi test:
1.64 kWh per mile over 4,700 miles! https://t.co/xwS2dDeomP pic.twitter.com/oLZHoQgXsu
— TESLARATI (@Teslarati) March 10, 2026
Mone said the Tesla Semi it put into its fleet for this test recorded 1.64 kWh per mile efficiency, beating Tesla’s official 1.7 kWh per mile target and delivering a massive leap over conventional diesel trucks.
Comparable Class 8 diesel semis, typically achieving 6-7 miles per gallon, consume roughly 5.5 kWh per mile in energy-equivalent terms, meaning the Semi uses three to four times less energy while also producing zero tailpipe emissions.
Tesla Semi undergoes major redesign as dedicated factory preps for deliveries
The performance of the Tesla Semi in Mone Transport’s testing aligns with data from other participants in the pilot program. ArcBest’s ABF Freight Division logged 4,494 miles over three weeks in 2025, averaging 1.55 kWh per mile across varied routes, including a grueling 7,200-foot Donner Pass climb. The truck “generally matched the performance of its diesel counterparts,” the carrier said.
PepsiCo, which operates the largest known Semi fleet, recorded 1.7 kWh per mile in North American Council for Freight Efficiency testing. Additional pilots showed similar gains: DHL hit 1.72 kWh per mile, and Saia achieved 1.73 kWh per mile.
These metrics underscore the Semi’s ability to slash operating costs through superior efficiency, lower maintenance, and zero-emission operation. As charging infrastructure scales and production ramps toward 2026 targets, participants like Mone Transport are proving electric semis can seamlessly integrate into freight networks, accelerating the industry’s shift to sustainable, high-performance trucking.
Tesla continues to prep for a more widespread presence of the Semi in the coming months as it recently launched the first public Semi Megacharger site in Los Angeles. It is working on building out infrastructure for regional runs on the West Coast initially, with plans to expand this to the other end of the country in the coming years.
Elon Musk
SpaceX weighs Nasdaq listing as company explores early index entry: report
The company is reportedly seeking early inclusion in the Nasdaq-100 index.
Elon Musk’s SpaceX is reportedly leaning toward listing its shares on the Nasdaq for a potential initial public offering (IPO) that could become the largest in history.
As per a recent report, the company is reportedly seeking early inclusion in the Nasdaq-100 index. The update was reported by Reuters, citing people familiar with the matter.
According to the publication, SpaceX is considering Nasdaq as the venue for its eventual IPO, though the New York Stock Exchange is also competing for the listing. Neither exchange has reportedly been informed of a final decision.
Reuters has previously reported that SpaceX could pursue an IPO as early as June, though the company’s plans could still change.
One of the publication’s sources also suggested that SpaceX is targeting a valuation of about $1.75 trillion for its IPO. At that level, the company would rank among the largest publicly traded firms in the United States by market capitalization.
Nasdaq has proposed a rule change that could accelerate the inclusion of newly listed megacap companies into the Nasdaq-100 index.
Under the proposed “Fast Entry” rule, a newly listed company could qualify for the index in less than a month if its market capitalization ranks among the top 40 companies already included in the Nasdaq-100.
If SpaceX is successful in achieving its target valuation of $1.75 trillion, it would become the sixth-largest company by market value in the United States, at least based on recent share prices.
Newly listed companies typically have to wait up to a year before becoming eligible for major indexes such as the Nasdaq-100 or S&P 500.
Inclusion in a major index can significantly broaden a company’s shareholder base because many institutional investors purchase shares through index-tracking funds.
According to Reuters, Nasdaq’s proposed fast-track rule is partly intended to attract highly valued private companies such as SpaceX, OpenAI, and Anthropic to list on the exchange.
Elon Musk
The Boring Company’s Prufrock-2 emerges after completing new Vegas Loop tunnel
The new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The Boring Company announced that its Prufrock-2 tunnel boring machine (TBM) has completed another Vegas Loop tunnel in Las Vegas. The company shared the update in a post on social media platform X.
According to The Boring Company’s post, the new tunnel measures 2.28 miles, making it the company’s longest single Vegas Loop tunnel to date.
The new tunnel marks the fourth tunnel constructed near Westgate Las Vegas as the Vegas Loop network continues expanding across the city.
The Boring Company also noted that the new tunnel surpassed its previous internal record of 2.26 miles for a single Vegas Loop segment.
Construction of the tunnel involved moving roughly 68,000 cubic yards of dirt. The excavation process also used about 4.8 miles of continuous conveyor belt, powered by six motors totaling 825 horsepower.
The Boring Company’s Prufrock-series all-electric tunnel boring machines are designed to support the rapid expansion of company’s underground transportation projects, including the growing Vegas Loop network. Prufrock machines are designed for reusability, thanks in no small part to their capability to be deployed and retrieved easily through their “porposing” feature.
The Vegas Loop, specifically the Las Vegas Convention Center (LVCC) Loop segment, has already been used during major events. Most recently, the LVCC Loop supported the 2026 CONEXPO-CON/AGG construction trade show, which was held from March 3-7, 2026.
As per The Boring Company, the LVCC Loop transported roughly 82,000 passengers across the convention center campus during the event’s duration.
CONEXPO-CON/AGG is one of the largest construction trade shows in North America, drawing more than 140,000 construction professionals from 128 countries this year.
The LVCC Loop forms the initial segment of the broader Vegas Loop network, which remains under active development as The Boring Company continues building new tunnels throughout the city.