Elon Musk is seeing metals prices starting to soften, but lithium pricing he called"insane," during the earnings call for Tesla.
Tesla reported a revenue drop of 13% to $13.6 billion. Vehicles deliveries were down compared to last quarter. The company said it faced manufacturing challenges related to shutdowns, global supply chain disruptions, labor shortages and logistics and other complication."[The] pricing of lithium is insane," said Musk."I would like to once again urge entrepreneurs to enter the lithium refining business. The mining is relatively easy. The refining is much harder.