New York/Melbourne — Tesla has 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 carmaker held discussions in recent months with Cypress Development, which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties did not reach a deal, the people said, asking not to be named because the information is not public...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now