Tesla considers new partnership for battery materials

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It appears that Tesla is considering Chinese battery components manufacturer Sunrise New Energy as a potential supplier, according to a new report.

Sunrise New Energy said on Wednesday that Tesla has expressed interest in the manufacturer’s battery component products, as reported by Reuters. The company says that Tesla’s battery raw materials department had been in contact requesting details on its technology, upcoming manufacturing plans, and overall production capacity.

The company’s joint venture, Sunrise New Energy Material Co. Ltd., produces graphite anode material used in lithium-ion batteries, which are the batteries used in electric vehicles (EVs). The company’s joint venture is also in the process of building a 260,543-square-meter production facility located in the Chinese province of Guizhou.

Sunrise added on Wednesday that it has submitted applications for two separate patents related to its hard carbon composite materials, which would potentially add two new patents to the 25 it already holds.

Lithium-Sulfur battery producer raises $200M in Series B round

Tesla also has ongoing lithium supply deals with other companies, such as Australia’s Liontown Resources and Core Lithium.

The news also comes just a week after it was reported that Tesla lithium supplier Albemarle is expected to take over Liontown for $4.3 billion as soon as mid-2024. Last month, a report showed that Tesla may have threatened Core Lithium with a lawsuit, alleging that the company failed to execute on its supply agreements with the automaker.

The automaker also has a number of other mineral suppliers, and earlier this year, Tesla was reportedly considering the purchase of Brazilian lithium company Sigma Lithium — one of South America’s largest lithium extractors.

Tesla is also building its own lithium refinery plant near Corpus Christi, Texas, after holding a groundbreaking event for the facility in May. The site is expected to process raw lithium and other materials into battery-grade lithium for its EV batteries. In recent months, Tesla proposed donating as much as $3.8 million to help improve roads near the upcoming plant.

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

Tesla considers new partnership for battery materials

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Tesla Powerwall 3 officially listed on company website

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Tesla Powerwall 3 specs were officially listed on the company’s website. Tesla has already started Powerwall 3 deliveries and installations. 

Tesla’s dedicated order page for the residential energy storage unit states that Powerwall 3 is coming in 2024. However, some Powerwall customers have reported receiving Powerwall 3 units. 

“Powerwall 3 is a fully integrated solar and battery system designed to meet the needs of your home. Powerwall 3 can supply more power with a single unit and is designed for easy expansion to meet your present or future needs,” explains Tesla. 

“Powerwall 3 features an integrated solar inverter allowing solar to be connected directly for high efficiency. Powerwall 2 can be added to existing solar systems, installed as part of a new solar system, or on its own. Powerwall 2 is compatible with all major solar inverters and supports various system sizes.”

Powerwall 2 and Powerwall+ are eligible for a $500 rebate. Customers who install and register new Powerwall 2 or Powerwall+ units between June 15, 2023, and October 31, 2023, will receive the rebate. Powerwall 3 is not eligible for the offer. 

As of this writing, Tesla offers 3 types of Powerwall units: Powerwall 2, Powerwall+, and Powerwall 3. Below is a table showing the specifications of each Powerwall unit Tesla currently offers. 

The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.

Tesla Powerwall 3 specs officially listed on company website

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Tesla was the most shorted stock for the last three months

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Tesla (NASDAQ: TSLA) was the most shorted stock in August in the Americas, and Rivian had the highest institutional supply utilization, according to new data from a lending firm.

Tesla stock has had one of the more notable stands on Wall Street as a stock that has been bet against by investors and firms for years. However, after the company’s meteoric rally on the market over the past few years, it is evident that short sellers have taken quite a loss from their positions.

Nevertheless, the losses felt by the skeptics of the automaker’s stock have not convinced them to shy away from betting against the most successful electric car company on the planet.

New data from Hazeltree, a securities lending firm, shows that Tesla was the most crowded security for the third consecutive month in the “large-cap category” in the Americas region.

Hazeltree compiles its data by tracking approximately 12,000 global equities across the Americas, Europe, the Middle East, and Africa (EMEA) and the Asia-Pacific (APAC).

Rivian also had the highest Institutional Supply Utilization, meaning it is being shorted by institutions more than any other stock that was analyzed by Hazeltree.

(Data via Hazeltree)

Tesla is still the most-shorted stock, but its low institutional supply utilization, which stands at just 1.84 percent, means large firms are not shorting the stock as frequently as others. The short positions are coming from individual investors.

Over the past three months, Tesla’s institutional supply utilization has dropped, starting at 2.78 percent in June, 2.63 percent in July, and just 1.84 percent in August.

Rivian’s dropped slightly after appearing on the list for the first time in the firm’s July report, which saw their utilization rate at 33.21 percent.

Yesterday, Tesla stock surged 10 percent, helping the company gain billions in value after a note from Morgan Stanley talked optimistically about the Dojo Supercomputer.

Disclosure: I own Tesla stock.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Tesla was the most shorted stock for the last three months

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