Sumitomo To Boost Production Of Nickel Cobalt Aluminum Oxide As It Targets Supply Deal For Tesla Model 3
With goals to supply Tesla with battery materials for the upcoming Model 3, Sumitomo Metal Mining (SMM), is boosting production.
The company recently devised its 3-year plan for expansion, and is anticipating a 38% increase, from 1,850 tons a month to 2,550. The company mines the nickel material for Panasonic. Panasonic builds the cells for Tesla. SMM previously increased production for Tesla’s Model S.
Sumitomo has multiple initiatives for increased production. It is the only company in Japan refining E-nickel and cobalt. Production processes are being revamped to allow for maximized performance and stability.
SMM also refines nickel hydroxide for nickel metal hydride batteries used by Toyota. The company has an additional refinery in the Phillippines. The plan is for this location to see a 20% increase in production.