BHP, Tesla Gain On Supply Pact For Nickel, Renewables Collaboration By

© Reuters.

By Dhirendra Tripathi – BHP (NYSE:) and Tesla (NASDAQ:) stocks were among the gainers in Thursday’s premarket trading following an agreement under which the miner will supply nickel to the electric vehicle maker.

BHP was up 1% and Tesla 0.4%.

Nickel is one of the key metals used to make batteries that run electric vehicles.

BHP will supply Tesla with nickel from its Nickel West asset in Western Australia that it claims is one of the most sustainable and lowest carbon emission nickel producers in the world.

The agreement is much broader than a mere supply agreement. The two companies will collaborate to make the entire battery supply chain more sustainable including working on storage solutions along with looking for more ways to deploy renewable energy, according to a joint statement.

According to BHP Chief Commercial Officer, Vandita Pant, demand for nickel in batteries is estimated to grow by over 500% over the next 10 years, in large part to support the world’s rising demand for electric vehicles.






Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 Billionaire Club Co LLC. All rights reserved

Loading the chat ...