Tesla to sell off all its graphite-iron mining assets

Axios | Tesla is set to sell all its aluminum-sourced graphite mining assets.

The move, announced in a filing Thursday with the Securities and Exchange Commission, is aimed at reducing its carbon footprint by 2020.

The filing indicates Tesla is cutting its graphitic mining operations by about 60 percent from its current size, and will focus on other uses of the metals.

Tesla will also shutter some of its existing aluminum-and-sulfur-bearing facilities, including one in Montana.

The company said it will divest from “a handful of its key graphite operations” and will sell its remaining properties in the United States, Canada and Europe.

The change comes in the wake of the company’s recent $4 billion buyout of SolarCity in January 2020.

Axios obtained the filing through a Freedom of Information Act request.

Tesla CEO Elon Musk speaks at the New York Stock Exchange (NYSE) on Feb. 1, 2021.

Tesla has been struggling with rising greenhouse gas emissions and high costs of building electric vehicles.

The company plans to make significant reductions in its graphitical operations, which include its aluminum and steel operations, by the end of 2021, the filing says.

The companies plan to also reduce its total carbon footprint, and reduce emissions from its powertrain operations, the filings says.

In the filing, Tesla said it is closing some of the remaining aluminum-based facilities.

Tesla is also removing its graphites, which are used in a variety of other uses, from some of those operations.

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