Piedmont Lithium (PLL, $41.63) and Tesla (TSLA, $106.29) amend deal

Piedmont Lithium and electric-vehicle company Tesla have amended an agreement that will allow a ramping up of domestic supply of the metal to Tesla for its EV batteries.

Under the amended agreement, Piedmont will deliver around 125,000 metric tons of spodumene concentrate to Tesla from the second half of 2023 through the end of 2025. Instead of locked in pricing deal in prior agreements, , Piedmont’s deal with Tesla is based on a floating mechanism based on market prices.

The prior deal between Piedmont and Tesla was announced more than two years ago, when lithium prices were at a record lows amidst pandemic-induced weakness in demand for EVs. But the metal's prices have surged +1,200% over the past two years as supply has struggled to meet soaring demand for electric vehicle batteries.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.