• Tesla CEO Elon Musk traveled to Texas on Monday to celebrate the groundbreaking of the company’s new lithium refinery that the electric vehicle maker hopes will give the company more control over its supply chain.
• Musk said the facility, which will be one of the largest of its kind in the world, will produce lithium for “about a million vehicles” and have more lithium refining capacity than “the rest of North American refining capacity combined.”
• He explained that the refinery’s capacity could be expanded above the one million vehicle mark and noted that while Tesla will still use other suppliers for its battery-grade lithium, it wanted to address a choke point in the supply chain.

Tagged: Elon Musk