Elon Musk, the CEO of Tesla (NASDAQ:TSLA) and SpaceX, revealed in an X post on Tuesday that his companies are exploring opportunities to invest in Argentina and support the South American nation.
The announcement has garnered significant attention, given Argentina's status as the world's fourth-largest producer of lithium—a critical component in electric vehicle batteries.
Musk's interest aligns with Tesla's ongoing efforts to secure a stable supply of lithium to meet the growing global demand for electric vehicles.
Argentina, along with Bolivia and Chile, forms the "Lithium Triangle," a region that holds more than half of the world's lithium reserves.
This makes Argentina a strategic location for companies seeking to invest in sustainable energy resources.
While specific details about the potential investments and timelines were not disclosed, any collaborations could bolster Argentina's economy, create jobs, and enhance technological expertise in the region.