SAN FRANCISCO, May 8 (Reuters) – Tesla (TSLA.O) expects to produce lithium for about 1 million electric vehicles at its upcoming lithium refinery factory in Texas, CEO Elon Musk said on Monday.
Tesla broke ground on the lithium refining facility, as it looks to secure supply of the key component used in batteries and meet its ambitious sales target for electric vehicles.
Musk said Tesla aims to finish construction of the factory next year and then reach full production about a year later.
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