--- description: For now, only a handful of countries can supply the material key to the electrification of transportation title: Here's Why Elon Musk May Start Mining His Own Lithium image: https://static.time.com/v3/assets/bltea6093859af6183b/blt228a7bf99c2859d4/698a312c011682b355981cc0/elon-wants-more-lithium-evs-2.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close # Elon Musk Wants Lithium For Electric Vehicles, But It's Hard to Get by [Yvonne Yue Li / Bloomberg](/author/bloomberg/) ## Yvonne Yue Li / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 21, 2022 8:54 PM CUT  Elon Musk arrives to review the construction site of the new Tesla Gigafactory near Berlin in 2020. Elon Musk arrives to review the construction site of the new Tesla Gigafactory near Berlin in 2020.Maja Hitij—Getty Images by [Yvonne Yue Li / Bloomberg](/author/bloomberg/) ## Yvonne Yue Li / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 21, 2022 8:54 PM CUT [Elon Musk](https://time.com/6169100/elon-musk-secures-money-buy-twitter/ "undefined") wants more lithium, but only a handful of countries can supply the material key to the electrification of transportation, at least for now. The [Tesla Inc.](https://time.com/6168878/tesla-q1-2022-earnings-increase/ "undefined") chief made a public [appeal](https://www.bloomberg.com/news/articles/2022-04-20/musk-appeals-for-more-lithium-production-to-meet-battery-demand "undefined") for more investment in lithium mining to close what he sees as a yawning gap between supply and demand, fueled by the adoption of [electric vehicles](https://time.com/6133180/norway-electric-vehicles/ "undefined"). Musk signaled the electric car giant might finally start mining lithium due to skyrocketing prices. He first mentioned that plan almost two years ago.  Lithium mined production concentrates in a few major producing countries. Bloomberg The urgency to have a lineup of supply of the silvery white commodity comes as demand growth is set to surge in the coming years. While major producers such as Albemarle Corp. are expanding capacity and new projects are being built, supply growth is not fast enough due to a lack of investment following the boom-bust cycle in lithium from 2017 to 2019. Read More: [_Tesla Is Used to Controversy. But Its Latest Scandals Could Hurt Its Bottom Line_](https://time.com/6148510/tesla-lawsuits-recalls/ "undefined") For now, lithium production concentrates in a few countries, with Chile and Australia accounting for 81% of global output. Few suppliers mean higher risk of supply disruptions. Investors shied away from lithium producers, developers and explorers in the wake of the two-year price slump. At the time, a lot of lithium capacity was being brought online, triggered by the electrification hype when Tesla and non-hybrid vehicles came on the scene five years ago. While junior miners and startups are developing newer and greener technology to [mine lithium](https://time.com/6144254/rock-tech-lithium-miner-bilfinger-thiel/ "undefined"), none of them have achieved commercial scale, rendering auto companies such as Tesla to rely solely on traditional mining countries such as Chile and Australia. _With assistance from Joe Deaux._ ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/6169475/elon-wants-more-materials-evs/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/6169475/elon-wants-more-materials-evs/"},"headline":"Elon Musk Wants Lithium For Electric Vehicles, But It's Hard to Get","datePublished":"2022-04-21T20:54:29.000Z","dateModified":"2026-05-11T04:54:19.671Z","description":"Musk signaled the electric car giant might finally start mining lithium due to skyrocketing prices.","url":"https://time.com/6169475/elon-wants-more-materials-evs/","keywords":["wire"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt228a7bf99c2859d4/698a312c011682b355981cc0/elon-wants-more-lithium-evs-2.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Yvonne Yue Li / Bloomberg"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt228a7bf99c2859d4/698a312c011682b355981cc0/elon-wants-more-lithium-evs-2.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Elon Musk Wants More Materials, But Only A Few Countries Can Supply Them","caption":"elon-wants-more-materials-evs","creditText":"Maja Hitij—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/6169475/elon-wants-more-materials-evs/","name":"Elon Musk Wants Lithium For Electric Vehicles, But It's Hard to Get"}}]}] ```