Tesla chair Robyn Denholm has declared the company plans to spend more than $1 billion on Australia\u2019s minerals supply to cater for growing electric vehicle (EV) demand.<\/p>\n\n\n\n
Denholm, who spoke at the Minerals Council of Australia\u2019s minerals week, said each electric vehicle has around $5000 worth of minerals with Australia capable of supplying almost all of it.<\/p>\n\n\n\n
\u201cAustralia is the only country in the world with resources in all three of the critical battery metals, as well as other minerals required for the clean energy transition<\/strong>,\u201d she said.<\/p>\n\n\n\n \u201cBy 2030, the value of the global lithium-ion battery market is forecast to be $400 billion<\/strong>. That\u2019s eight-times the revenue generated by Australia\u2019s coal exports in 2020.\u201d<\/p>\n\n\n\n Tesla has also valued Australia\u2019s environmental social governance (ESG) practice and investor confidence in mining.<\/p>\n\n\n\n \u201cIn short, a values-led mining industry has greater value to Tesla and to an increasing portion of the global marketplace,\u201d Denholm said.<\/p>\n\n\n\n \u201c\u2026Australia has the potential for some of the lowest emissions resources in the world.<\/p>\n\n\n\n \u201cThis is critically important over the next 30 years, because manufacturing as a whole has to decarbonise very quickly and this means that low-carbon minerals will be at a strong advantage in the new supply chains being created for renewable energy.\u201d<\/p>\n\n\n\n According to Denholm, Australia has a competitive opportunity to enhance its environmental, social and governance (ESG) practices for the future.<\/p>\n\n\n\n \u201cTesla is the world\u2019s largest manufacturer of electric vehicles and battery storage systems,\u201d Denholm said.<\/p>\n\n\n\n \u201cAt the heart of everything we do in our quest to accelerate the transition to sustainable energy is the lithium-ion battery \u2013 one of the most important technologies of the century.<\/p>\n\n\n\n \u201cThere is a global transition to sustainable energy underway and this presents a huge opportunity for Australia.\u201d<\/p>\n\n\n\n Denholm said Australia should also prioritise onshore refining of its lithium to save costs and reduce emissions.<\/p>\n\n\n\n \u201cThere\u2019s another reason for Australia to prioritise onshore refining; it\u2019s a huge economic opportunity,\u201d Denholm said.<\/p>\n\n\n\n