Tesla is looking to solidify its supply chain after announcing plans for a new car and battery. Hacking its supply chain and developing new technologies are two major strategies the company employs to lower costs. Last week, Elon Musk announced a new $25,000 car set to launch in three years. He explained, "A lot of people want to buy a Tesla, but they simply don't have enough money."
- Currently, the cheapest Tesla is the Model 3, which starts at $38,000 before EV incentives.
- Piedmont Lithium signed a five-year deal to supply Tesla with high-purity lithium ore mineral. The company's stock rose by almost ~236% from $11 to $37 following the agreement Monday.
- Tesla is attempting to purchase a 10% stake in LG Energy Solutions, a spinoff of LG Chem in South Korea.