TSLA Stock Alert: What to Know About Tesla’s Graphite Deal With Magnis Energy


  • Tesla (TSLA) stock is moving on graphite deal news.
  • The company just signed an agreement with Magnis Energy (MNSEF).
  • This will see Magnis begin graphite delivery for Tesla by February 2025.
Tesla Motors (TSLA Stock) now an SP500 company with a busy Pond Springs location in northwest Austin, TX

Source: Roschetzky Photography / Shutterstock.com

Tesla (NASDAQ:TSLA) stock is on the move Tuesday following news that the electric vehicle (EV) company signed a graphite deal with Magnis Energy (OTCMKTS:MNSEF).

According to this agreement, Tesla will purchase a minimum of 17,500 tonnes per annum of “Anode Active Materials (AAM).” The deal will commence in February 2025 and includes a fixed price over at least three years as well as a “customer option to increase up to 35,000 [tonnes per annum].” Tesla will use these materials for its EV batteries.

There are several requirements that Magnis Energy has to meet to keep the deal. These include securing a final location for its commercial AAM plant by June 30, 2023, producing AAM from a pilot plant by March 31, 2024 and “commencing production from the commercial AAM facility” by Feb. 1, 2025.

Frank Poullas, Chairman of Magnis, said the following about the deal with Tesla:

“We are really excited to bring our high performing AAM to market that requires no chemical or thermal purification throughout the whole process, which differentiates this sustainable material in the market and provides great value to all parties.”

TSLA Stock Movement Today

Following news of today’s graphite deal, only around 48 million shares of TSLA stock have changed hands as of this writing. That’s below its daily average trading volume of around 166.8 million shares. Investors will also note that TSLA stock is down 1.9% as of Tuesday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/02/tsla-stock-alert-what-to-know-about-teslas-graphite-deal-with-magnis-energy/.

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