Tesla has been weighing a takeover of battery-metals miner Sigma Lithium, people with knowledge of the matter said, amid rampant demand for the metal used in electric vehicle batteries.
The EV maker run by Elon Musk has been speaking with potential advisers about a bid, said the people, who asked not to be identified discussing confidential information. Sigma Lithium is one of multiple mining options Tesla is exploring as it mulls its own refining, one of the people said.
Sigma’s U.S. shares surged more than 25% in aftermarket trading.