Tesla held talks with Glencore about taking a stake in the Swiss commodities group, in a sign of how global carmakers are seeking to build ties with the mining industry to secure materials needed for the rollout of electric vehicles.
Preliminary discussions about Elon Musk’s electric car and battery maker buying 10-20 per cent of Glencore began last year, according to two people familiar with the matter.
They continued in March this year, when Glencore chief executive Gary Nagle visited Tesla’s factory in Fremont, California as part of a roadshow for the mining company’s annual results.
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