Tesla Extends Graphite Supply Agreement with Syrah Resources
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 hours ago
0mins
Source: Yahoo Finance
- Agreement Continuation: Tesla has withdrawn its notice to terminate the graphite supply agreement with Australia's Syrah Resources, allowing the latter more time to prove it can meet final qualification standards, ensuring the supply of 8,000 metric tons of graphite anode material over four years.
- Quality Issue Resolution: Syrah has begun producing conforming anode material samples at its Vidalia facility in Louisiana, which Tesla has accepted, marking progress in resolving previous quality concerns.
- Supply Chain Diversification: Tesla retains the right to terminate the agreement if the Vidalia material fails final qualification, a strategy that helps reduce reliance on Chinese processing for battery materials, enhancing supply chain security.
- Market Impact: As automakers seek to diversify battery supply chains, Tesla's decision not only secures a potential source of raw materials for its electric vehicle batteries but may also influence the competitive landscape of the future battery materials market.
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Analyst Views on TSLA
Wall Street analysts forecast TSLA stock price to fall
30 Analyst Rating
12 Buy
11 Hold
7 Sell
Hold
Current: 435.790
Low
25.28
Averages
401.93
High
600.00
Current: 435.790
Low
25.28
Averages
401.93
High
600.00
About TSLA
Tesla, Inc. designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to its products. Its segments include automotive, and energy generation and storage. The automotive segment includes the design, development, manufacturing, sales and leasing of high-performance fully electric vehicles, and sales of automotive regulatory credits. It also includes sales of used vehicles, non-warranty maintenance services and collisions, part sales, paid supercharging, insurance services revenue and retail merchandise sales. The energy generation and storage segment include the design, manufacture, installation, sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systems incentives. Its consumer vehicles include the Model 3, Y, S, X and Cybertruck. Its lithium-ion battery energy storage products include Powerwall and Megapack.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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