The Tesla Lithuanian Production Plant, referred to as the “Money Printing machine” by CEO Elon Musk, is expected to meet its previously planned deadline.
In September 2022, Tesla announced its plans to construct a Lithium cleaning plant on the Texas coast. The primary objective of the new plant is to produce lithium hydroxide to support Tesla’s battery manufacturing at the GigaFactory in Austin, Texas.
The company is also aiming to demonstrate the efficiency of its new low-cost processing system. If successful, this technology could be adopted by the entire industry, leading to the establishment of new lithium processing facilities to meet the growing demand for electric vehicles.
Earlier, Tesla confirmed its intention to invest $365 million in the lithium production plant, which will create job opportunities for approximately 165 permanent employees and an additional 250 jobs during the two-year construction period.
During the groundbreaking ceremony in May, CEO Elon Musk stated that the plant would produce enough high-quality lithium to manufacture approximately 1 million electric vehicles annually.
According to the latest data, completion of the construction is expected next year, with production scheduled to commence in 2025 (source).
However, thanks to updated information from Tesla’s senior manager, Jason Bevan, it has been revealed that Tesla now plans to commence operations at the plant in the first half of 2024 and increase production in the second half of the year.
Bevan also expressed his belief that this plant on the coast presents an opportunity for Tesla to expand its original plan, saying, “We have a site that is ideal for future expansion, so I think that there are great opportunities for further economic impact, in excess of those direct jobs that we create.”
This project deserves special attention as it has the potential to significantly increase the lithium processing capacity in North America, which is currently limited.