Tesla bought 110000 tons of lithium ore from Core Lithium in Australia and ordered it until October 26 this year.

August 29, according to kalkinemedia, electric car maker Tesla and Australian lithium miner Core Lithium agreed to extend the termination date of the off-take agreement to October 26, 2022, which will enable the two sides to complete negotiations on a binding off-take agreement.

In early March this year, Tesla and Core Lithium signed a binding off-take agreement on lithium supply. The off-take terms agreement originally stipulated that the negotiations between the two parties would be completed by August 27, 2022.

Under the agreement, Core Lithium will supply Tesla with up to 110000 tons of spodumene concentrate within four years, which will come from the company's Finniss lithium project in northern Australia. However, the plan depends on the final product purchase agreement signed by the two companies.

According to reports, the Finniss lithium mine project is expected to start production of the first spodumene concentrate in the fourth quarter of 2022 and supply of Tesla in the second half of 2023.

It is reported that lithium is a key material for the production of electric vehicle batteries. Lithium supply has long been a controversial issue in the discussion of electric vehicles in the future.

In recent years, with the improvement of battery production capacity, Tesla has reached supply agreements with Piedmont, graphite supplier Syrah Resources, and Australian lithium miner Liontown Resources.