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Tesla Dodges Nickel Crisis With Secret Deal to Get Supplies

March 30, 2022

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The invasion of Ukraine has added to agita among electric vehicle makers over the supply of nickel, a critical ingredient in EV batteries, since Russia is one of the world’s biggest producers.

But Tesla Inc. had already been scouring the globe for the metal, signing pacts with several nickel suppliers since 2021.

That includes a multiyear supply deal with mining giant Vale SA. The agreement, which hasn’t been announced, covers nickel from Canada, according to people familiar with the matter who asked not to be named discussing private details.

Unlike most of its peer automakers, Tesla has spent years focusing on how to secure its own nickel supplies.

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