Tesla CEO Musk held an online meeting with the Prime Minister of Mongolia to discuss electric vehicle cooperation

According to news on June 7, Tesla CEO Elon Musk and Mongolian Prime Minister Oyun Erden held an online meeting on Tuesday to discuss potential investment and cooperation in the field of electric vehicles.

During the meeting, the two sides discussed key materials in the electric vehicle supply chain and the use of rare earth elements and battery minerals. As a country rich in mineral resources, Mongolia has outstanding reserves of rare earth minerals and copper. Recently, Mongolia has begun to Tolgoi copper mine is one of the largest known copper-gold mines in the world, with an expected annual output of more than 500,000 tons.

As the sales of new energy vehicles continue to grow, Tesla’s demand for electric vehicle battery production capacity is also growing. It is understood that Tesla plans to cooperate with Panasonic to expand the production capacity of its jointly operated electric vehicle battery factory in Nevada by 10% by March 2026. The decision is believed to be the result of Tesla's demands on Panasonic.

Tesla and the Mongolian government are discussing a potential joint research project that would further strengthen cooperation between the two countries in the field of electric vehicles. This cooperation not only meets Tesla's needs for key materials, but also provides Mongolia with opportunities to develop its electric vehicle industry.

As the electric vehicle market continues to develop, the cooperation between Tesla and the Mongolian government will play an important role in promoting the development of sustainable transportation and clean energy. Both parties will face new opportunities and challenges to promote the sustainable development of the electric vehicle industry.

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