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Is the car manufacturer now entering the mining industry?

For a car manufacturer, Tesla is currently not round. There are bad news again and again, and the share price has been severely affected in recent months. Elon Musk suggested at the last general meeting that Tesla will soon want to promote important metals for its batteries. How is this useful?

"There is no point in complicating our range if we do not have enough batteries," said Elon Musk at the annual general meeting. In fact, the supply of batteries is currently limited because many rare metals are needed to make them. In the coming years, Tesla plans to deliver its own truck, Y model and pickup truck. These projects can only be implemented if Tesla continues to receive enough batteries at fair prices. To ensure this at the full efficiency of Tesla factories, own access to cobalt and lithium makes sense. Similarly, Tesla can cope with resource competition with other car manufacturers.

From the annual general meeting, Tesla's share increased by around three percent. However, the situation on the chart remains unchanged. If Tesla exceeded the current downward trend at USD 195, it would be a potential entry point for speculators. For long-term investors, stocks only make sense if the 200-day mark is exceeded at 195 euros.

Reference to potential conflicts of interest:

The President of the Management Board and the majority shareholder of Börsenmedien AG, Mr. Bernd Förtsch, received direct and indirect positions in the following financial instruments or related derivatives listed in the publication, which benefit from the price development resulting from the publication: Tesla.

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