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Elon Musk to young entrepreneurs: “Do you like minting money? The Lithium business is for you.”

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Elon Musk advised young entrepreneurs to get into the Lithium business. During the Q1 2022 live Q&A webcast, Tesla talked about some of the challenges it is still facing, particularly regarding raw materials and logistics. 

Musk teased some “exciting announcements” about raw materials later this year. He noted that as Tesla reaches the production level when it makes 10, 15, or 20 million cars per year, it will need to look at the macro tonnage of raw materials it needs. He specifically mentioned the tonnage of Nickel, Graphite, and Lithium Tesla would need to build cars at that level. 

He explained that Tesla is thinking of the limiting factors that could affect production in the future and is trying to address them. Currently, Tesla thinks mining and refining Lithium appears to be a limiting factor. 

Credit: Munro Live

Musk shared that Lithium is responsible for “quite a bit of” cost growth in battery cells, elaborating that it is the “single biggest cost growth” factor for Tesla at the moment. Although, he did clarify that Lithium makes up 2% to 3% of the battery cell or just about 5 kg per car. The cell’s most expensive and heaviest item is the cathode, which is the nickel or iron phosphate part.

“We’re looking carefully at all of the raw materials and trying to figure out how we can accelerate the total amount of raw materials needed to transition the world to sustainability,” Musk said. 

Later in the earnings call Musk said: “So, we think we’re going to need to help the industry on this front, but the — I mean, the industry is very fast. And I certainly encourage entrepreneurs out there who are looking for opportunities to get into the lithium business. The lithium margins right now are practically software margins.”

“I mean — correct me if I’m wrong — but I think we’re seeing cases where the spot lithium price is 10 times higher than the cost of extraction. So, like we’re talking 19% margins here. Can more people please get into the lithium business? Do you like minting money? Well, the lithium business is for you,” he advised.

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Tesla Price Increases and Raw Material exposure

Tesla CFO Zachary Kirkhorn noted that 10% to 15% of the company’s cost structure is exposed to raw materials. 

“We’ve been experiencing increases in costs in general, but also raw materials for a number of quarters now. That pace picked up in Q1, so last quarter. And what we’re seeing for Q2 is slightly higher than that as well,” Kickhorn clarified.

He added that the rising costs do not affect Tesla immediately or directly as the company has prepared somewhat. For example, Tesla has signed several Lithium supply deals with a few different companies, including Core Lithium and Liontown Resources in Australia. Tesla also secured a supply deal with the world’s top Lithium company, China-based Ganfeng Lithium Co Ltd. 

Kirkhorn explained that as Tesla’s supply deals expire, there can be a lag as the company renegotiates new contracts. He also shared that some raw material contracts directly reflect raw material prices in some cases. 

“And so, to Elon’s point, what we’re trying to do here because it is quite an unprecedented situation of raw material movement and all of these various lags and all this uncertainty around renegotiating contracts is we’re trying to anticipate where things will go and make sure that the pricing that we have in place at the time that the raw material costs increases hit us, that they align, and that the company can remain financially healthy in various scenarios as we look out over the next four quarters,” elaborated Kirkhorn.

The Teslarati team would appreciate hearing from you. If you have any tips, reach out to me at maria@teslarati.com or via Twitter @Writer_01001101.

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Tesla Cybercab launch catches NHTSA’s attention who wants to know more

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(Credit: Teslarati)

Tesla launched the all-electric, steering wheel-less, and pedal-less Cybercab last night at a quiet and small event in downtown Austin, Texas.

The launch, which marked the beginning of unsupervised ride-hailing for Tesla’s Robotaxi platform with Cybercab, has already caught the attention of the National Highway Traffic Safety Administration (NHTSA) who has more questions.

NHTSA opened an Audit Query (AQ) into the Cybercab’s Federal Motor Vehicle Safety Standards (FMVSS) certification that Tesla gave the vehicle. Manufacturers self-certify vehicles much of the time to avoid excessive regulatory delays.

Tesla Cybercab interior, note the lack of steering wheel and pedals. (Credit: @niccruzpatane/X< /a>)

However, the agency needs more information; it said in a summary:

“On September 3, 2026, Tesla began commercial deployment with a small number of its Cybercab vehicles in Austin, Texas. Tesla notified the Agency that it certified those Cybercab vehicles as compliant with all applicable Federal Motor Vehicle Safety Standards (FMVSS). Tesla also notified the Agency that it plans to gradually expand commercial deployment of the Cybercab to include additional vehicles and locations.”

It also went on to state that the Cybercab lacks traditional automotive controls, which is a groundbreaking move. The process is entirely new to the NHTSA, which gives the agency some leverage to put Tesla’s launch under a microscope:

“The vehicles lack permanently attached, conventional manual controls, such as a brake pedal, gas pedal, steering wheel, and mirrors. NHTSA is opening this AQ to examine the process and technical data on which Tesla relied when certifying the Cybercab and related issues. Among other things, NHTSA will consider the extent to which Tesla’s certification depended on determinations that certain FMVSS are inapplicable to the Cybercab.”

Tesla has added 45 Cybercab units to its fleet of Robotaxi-enabled cars in Austin, according to public documents the company submitted to the State of Texas over the past week. Enabling this level of self-driving is something Tesla has worked toward for many years, and now that it is finally here, it seems more than reasonable that regulatory agencies will have some questions.

Many outlets might try to frame this as a negative, but it is truly an agency looking to gain more information about groundbreaking tech that Tesla has been developing for years.

In an effort to keep riders, pedestrians, and property safe, any and all data accumulated from these first days, weeks, and months of rides will likely be shared with the NHTSA to enable broader rollout strategies across the United States and more in the future.

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Tesla Cybercab is coming to Asia this month as US service officially begins

Tesla Asia says Cybercab will be on display in Hong Kong, Tokyo, Beijing and Shanghai this month.

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Concept image of Tesla Cybercab in the streets of Hong Kong via Grok
Concept image of Tesla Cybercab in the streets of Hong Kong via Grok

Tesla’s Cybercab is heading to Asia. The official Tesla Asia account posted on X Thursday, inviting Cybercab fans to “Come experience the future of autonomy in Hong Kong, Tokyo, Beijing & Shanghai.” The post went up within hours of Tesla’s own Cybercab milestone in Texas, where the company said Thursday it had begun offering rides in across Austin.

Exact dates and venues for the Asia tour haven’t been released yet, though Tesla Hong Kong replied to the announcement with “Cybercab will be on display in Hong Kong soon,” while Tesla Japan’s response pointed fans to a sign up page for updates. Neither post mentions test rides or a service area, and nothing so far suggests Tesla is launching Robotaxi operations in any of the four cities. Based on how Tesla has run past Cybercab tours, in Europe in late 2024 and at US shopping centers that same December, the Asia stops are almost certainly static displays at Tesla stores or public venues as a means to stimulate buzz for its future driverless ride-hailing service in the big cities.

The timing lines up with Tesla’s only prior Cybercab appearance in the region, a booth at the China International Import Expo in Shanghai last November, which Teslarati covered at the time. At that event, Tesla’s regional general manager for Shanghai framed the car as evidence of the company’s broader mission, a message Tesla has since formalized in its Master Plan Part IV, which states that “autonomous vehicles have the capacity to dramatically improve the affordability, availability and safety of transportation while reducing pollution, particularly in our increasingly dense global cities.” The same document is where Tesla lays out its “sustainable abundance” framing for Cybercab and Optimus alike, describing the two as the hardware behind an AI driven push to cut the cost of transportation and labor at scale.

Whether Cybercab actually operates as a robotaxi anywhere in Asia remains an open question, considering China has already pushed an autonomous ride-hailing market that’s run on homegrown players like Baidu’s Apollo Go and Pony AI. For now, the four city tour reads as a marketing push timed to Austin’s momentum.

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Lifestyle

Tesla Cybertruck targets job site crews with new Tailgate Utility Track and Bed Gear Box accessory

Tesla launched a $350 tailgate track and a $985 lockable Bed Gear Box for Cybertruck.

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Tesla Cybertruck construction site

Tesla’s Cybertruck team added two more items to the Tesla Shop, targeting job site crews and owners who use the truck bed for actual work rather than just showing it off. The official Cybertruck X account posted the Tailgate Utility Track and the Bed Gear Box within minutes of each other, part of a five item batch that also included a reflective jacket, a spray paint hat and an updated reflective tee.

The Tailgate Utility Track runs $350 and turns the folded down tailgate into another mounting surface. It’s a single aluminum track with a T-slot for sliding accessories and two L-track attachment points, plus two load stops included in the box. The pitch is straightforward: strap down oversized cargo, like lumber or a cooler, that hangs off the back of the bed without it sliding out mid-drive. It bolts onto the existing tailgate and works on every Cybertruck trim.

The Bed Gear Box costs $985 and is a different kind of accessory. It’s a lockable aluminum storage box, 55.78 inches long, 19.8 inches wide and 7.79 inches tall, that mounts to the bed’s L-track rails and comes with two internal bins for smaller items. According to Tesla, at just over 57 pounds empty, it’s meant to stay in place rather than come in and out with each trip, giving owners a factory-fit alternative to loose totes for tools, recovery gear or emergency supplies. Tesla’s listing notes that Long Range and Dual Motor AWD Cybertrucks need the L-Tracks accessory installed separately before the Gear Box will mount, since L-tracks come standard only on certain configurations.

Tesla Cybertruck bed gear box accessory

Tesla Cybertruck bed gear box accessory

Both accessories lean on the idea Tesla has been building toward since Elon Musk first described the Cybertruck’s third-party attachment strategy at the 2023 shareholder meeting, when he said the truck would ship with mounting points so outside companies, and Tesla itself, could keep adding gear without redesigning the bed. That’s the same L-track backbone underneath the tailgate shield and jumpseats Tesla launched last year, and the off-road armor package that arrived through the same X account in 2025.

Owners looking to round out the rest of the L-track ecosystem, cargo dividers, MOLLE panels, bed racks and similar gear, can find a wider range of options through our Cybertruck accessories collection.

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