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NAS:TSLA, Sep 30, 04:22 UTC

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LG Chem: Shares of LG Chem rise after report of Tesla's interest in battery unit, Auto News, ET Auto

TSLA

SEOUL - Shares of LG Chem Ltd , which supplies batteries to Tesla Inc, climbed on Tuesday, after media said the U.S. electric vehicle maker was looking to acquire a stake in a battery unit the South Korean company wants to dispose of. "Tesla is said to be exploring taking up to a 10 percent stake in LG Energy Solution," the Korea Times quoted an unidentified banking source as saying, in the U.S. firm's quest for a stable supply of batteries. LG Chem's shares ended Tuesday up 4.5%, recouping some of last week's fall of nearly 6% after Tesla announced a plan to produce batteries in house and halve costs. LG Chem, South Korea's top petrochemicals firm, announced a plan last week to separate its battery business in December, to pave the way for "large investments" and a potential initial public offering.

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Walmart Canada Triples Its Tesla Semi Orders

TSLA WMT

The Tesla Inc. (NASDAQ: TSLA) all-electric semi is expected to begin production soon, especially now that Tesla has revealed the company's new battery technology. Now it looks like Walmart Inc (NYSE: WMT) in Canada is increasing its order of the Tesla Semi to 130 trucks. The announcement comes alongside Walmart's $3.5 billion investment over the next five years to grow its business, while also achieving zero emissions by the year 2040. "Tripling our reservation of Tesla Semi trucks is part of our ongoing effort to innovate the business and prioritize sustainability," said John Bayliss, Senior Vice-president, Logistics and Supply Chain, Walmart Canada.

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Tesla Aims To Mine Its Own Lithium After Dropping M&A Plan

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(Bloomberg) -- Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter. The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn’t reach a deal, the people said, asking not to be named because the information isn’t public. No company has been able to produce commercial quantities using the practice. But a push into mining is at the center of Tesla’s plan to cut battery costs and deliver on a promise to bring a $25,000 electric car to market. “This move by Tesla supports the importance of clays as a future source of lithium in the United States,” Cypress CEO Bill Willoughby said in an emailed statement, referring to Tesla’s plan to extract lithium from clay.

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Monday, September 28


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Musk plans IPO for SpaceX's Starlink business

TSLA SPA

(Reuters) - Tesla Inc <TSLA.O> Chief Executive Officer Elon Musk plans to list SpaceX's space internet venture, Starlink, several years in the future when revenue growth is smooth and predictable. "Public market does *not* like erratic cash flow haha," the billionaire entrepreneur tweeted https://twitter.com/elonmusk/status/1310672832783884290 on Monday. Musk said last year that Starlink was an important new revenue stream for his California-based Space Exploration Technologies, or SpaceX. SpaceX is racing to build out its Starlink satellite constellation to offer broadband internet commercially by the end of 2020.

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Tesla Looking To Acquire Stake In LG Battery Business: Report

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Tesla Looking To Acquire Stake In LG Battery Business: Report. Not only is Tesla ramping up production and creating a completely new battery cell, the company also said it will continue working with partners to access as many batteries as possible. A new report from The Korea Times said that Tesla is seeking to acquire a stake in LG Chem to obtain a new supply of batteries. LG Chem is a major supplier for most EVs worldwide, including General Motor (NYSE: GM)'s Chevy Bolt and Ford Motor Company (NYSE: F)'s Mustang Mach E. Benzinga's Take: LG Chem is one of the largest battery suppliers in the world — behind Tesla.

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Tesla Inks 5-Year Supply Deal With Australian Miner To Satisfy Growing Hunger For Lithium

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Tesla Inks 5-Year Supply Deal With Australian Miner To Satisfy Growing Hunger For Lithium. Tesla Inc (NASDAQ: TSLA) has signed a five-year deal with Australia’s Piedmont Lithium Limited (NASDAQ: PLL) for the supply of high-purity lithium ore, Reuters reported Sunday. What Happened: Under the agreement, the Elon Musk-led automaker would obtain a third of its requirement of 160,000 tonnes-per-year spodumene concentrate from Piedmont deposits based in North Carolina, according to Reuters. Why It Matters: The Piedmont deal comes at the heels of the automaker’s Battery Day, held last week, where Musk revealed that Tesla had received the rights to a 10,000 acre-land for lithium acquisition. The 4860 Battery Cell to be brought into high volume production in 2022 would allow electric vehicles to use fewer batteries and drive down manufacturing costs. Even so, demand for batteries remains so high that Tesla and its battery partners like Panasonic Corp (OTC: PCRFY), LG Chem Ltd (OTC: LGCLF), and CATL put together aren’t enough to fulfill supplies, Musk tweeted before the battery day event.

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Tesla Supplier Panasonic Trails Samsung In Battery Patents, But Japan Tops Overall: Study

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Tesla Supplier Panasonic Trails Samsung In Battery Patents, But Japan Tops Overall: Study. Japan is the world leader in battery innovations holding more than one-third of the total patents in this space, according to a joint study conducted by the European Patent Office and the International Energy Agency. What Happened: The study found that 2,339 Japanese applications for international patents were published in 2018, the highest of any country, the Financial Times reported Sunday. South Korea holds the second spot with 1,230 patents. The report stated that almost 45% of battery cell patents in 2018 were related to lithium-ion cells used in smart devices. A Nikkei Asian Review report suggested last month that the market for rechargeable batteries could exceed $25 billion by 2035. However, Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), thinks that the electric vehicle maker may still end up facing a shortfall when its high-volume production begins in 2022.

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Saturday, September 26


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How Tesla, Nikola and Donald Trump are all connected

TSLA DTRUMP

On January 9, 1943, two days after Nikola Tesla died destitute in a New York City hotel, the FBI called MIT professor and esteemed electrical engineer, John G. Trump, to determine if any of the belongings in the inventor’s estate—which included a purported weapon of mass destruction Tesla called the death ray—would be dangerous if they fell into enemy hands. That two high-profile electric vehicle companies, one named after the inventor’s last name, ‘Tesla,’ headed up by Elon Musk—very much an intellectual descendent of the inventor, and another ‘Nikola,’ after his first name, would both be creating huge waves and headlines—though for very different reasons—80 years later, seems to be beyond. Yet for those who’ve believed in the man and his vision, maybe it isn’t so surprising. It sued the U.S. government over Chinese import tariffs. And in a court document filed this week, Tesla accused Nikola of itself stealing a truck design, a filing it made in response “to a lawsuit in which Nikola alleges that Tesla stole Nikola's design of its electric truck— the Nikola One — for the Tesla Semi…” (Got that?) Oh and California Governor Gavin Newsom announced he was banning gas powered cars in his state by 2035, which would certainly benefit Tesla (and Nikola.). But all that was just a sideshow (if you can imagine) for Tesla’s main event, the company’s first “Battery Day,” where the company introduced a battery that it says has six times more power and five times more energy than its previous batteries.

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Thursday, September 24


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Russian pleads not guilty in foiled Tesla ransomware plot

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RENO, Nev. (AP) — A Russian citizen accused of offering a Tesla employee $1 million to enable a ransomware attack at the electric car company's plant in Nevada denied wrongdoing Thursday before a federal magistrate judge. “I'm not guilty," Egor Igorevich Kriuchkov said in response to a charge of conspiracy to intentionally cause damage to a protected computer. He said earlier in the hearing that he wanted “to go through the whole process as fast as possible." The judge in Reno ordered Kriuchkov to remain in federal custody pending trial, scheduled Dec. 1 but likely to be postponed. Court documents say Kriuchkov was in the United States on a Russian passport and a tourist visa when he tried to recruit an employee of what was identified as “Company A" to install software enabling a computer hack.

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Electrified by Tesla, Chinese startups are on the charge

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Chinese EV startups NIO, XPeng Inc, Li Auto and WM Motor have raised more than $8 billion between them this year and now rival Aiways is planning to go public, its co-founder and President Fu Qiang told Reuters. Speaking ahead of the Beijing auto show which starts on Saturday, Fu said the relative success of U.S. initial public offerings (IPO) by XPeng and Li Auto had helped fuel the company's ambitions to list. Since it was founded in 2017 in Shanghai, Aiways has raised "no more than 10 billion yuan" and it will need to secure more funding from some private equity funds and other investors, said Fu, the former head of Volvo Cars China who has also been an executive at Mercedes-Benz, Skoda and FAW-Volkswagen. China has been the world's fastest-growing EV market for years helped by generous state purchase subsidies but the sales boom started to sputter last year as Beijing began cutting back financial support and watering down other pro-EV policies. Some prominent Chinese EV startups such as Byton and Singulato have struggled and NIO's future looked in doubt last year. But a surge in Tesla's market value - and its sales in China - suggest the country's EV dream is far from over. Tesla's sales in China in the first eight months of 2020 have nearly tripled from a year ago to 73,658 cars, according to consulting firm LMC Automotive, despite the disruption caused by the COVID-19 pandemic. Some Chinese auto executives say cars made by the company from Palo Alto, California are achieving the status of Apple's first iPhones in China and with so many potential technological advances still to come, that gives them hope.

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