World Tesla mints nickel deal with Aussie mining giant
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Tesla just introduced subscriptions for its premium driver assistance package for $199 a month, rather than $10,000 up front.Marketed as Full Self-Driving capability (or FSD), the driver assistance system does not make Tesla's electric vehicles safe for use without an attentive driver behind the wheel.
Anglo-Australian mining firm BHP said Thursday it had reached a deal to provide Tesla with supplies of nickel -- a metal vital in producing high-powered batteries for electric cars.
Under the agreement, the innovative carmaker will lock in supplies from a mine in Western Australia, one of the world's largest sources.
Most nickel today is used in the production of stainless steel.
But demand for the metal is projected to explode over the next decade, as electric vehicles become more common.
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The price of Teslas AutoPilot is perceived by many customers as too high. Now the electric car new has improved and offers a subscription model. © Provil by Finanzen.net Spencer Platt / Getty Images • Tesla switches rental option for autopilot functions free • After 50 months more expensive than with one-time purchase • Strong revenue ahead Teslas AutoPilot functions can now rent Tesla drivers now .
Mercurial Tesla CEO Elon Musk has previously voiced concern about future nickel shortages -- which could put a brake on the efficiency and storage capacity of batteries, as well as making them more costly to produce.
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BHP chief commercial officer Vandita Pant predicted demand will "grow by over 500 percent over the next decade" in large part thanks to the nickel-for-batteries business.
No details of the duration or value of the deal were disclosed.
President Joe Biden's administration has prodded US companies to develop supply chains that are not overly reliant on raw materials or production facilities in China that are vulnerable to diplomatic crosswinds.
Australia holds around a quarter of the world's nickel supply.
Tesla recently reached a similar supply deal with the Goro nickel mine in New Caledonia.
A raft of Chinese companies are vying to challenge Tesla's position as the world's leading electric car producer, including BYD, Nio, Li Auto and XPeng -- which this month listed on the Hong Kong stock exchange.
Malaysian authorities crush 1,069 crypto mining rigs with a steamroller .
How do authorities dispose of confiscated cryptocurrency mining rigs? In a city in Sarawak, Malaysia, authorities got rid of 1,069 rigs at once by crushing them with a steamroller, Vice reports. According to Malaysian publication Dayak Daily, the PCs were confiscated over six raids conducted between February and April this year. Sarawak Energy Berhad, the electric utility company of the Malaysian province, is accusing the mining operators of stealing electricity for their activities. The operators allegedly stole RM8.4 million worth of energy, or around US$2 million, from the company.