Tesla CEO Elon Musk encouraged entrepreneurs to enter the lithium mining business today. This request came during Tesla’s Q2 2022 earnings call that took place today.
“I’d like to, once again, urge entrepreneurs to enter the lithium refining business.”
He added, “It’s like software margins,” and that “it’s a license to print money.”
Elon Musk also said that Tesla sees constraints in the refining of materials to make the battery cells. He added that there isn’t a shortage of materials on Earth but emphasized the need for more refining.
“There is no fundamental barrier, it’s simply a rate question here.”