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Bill Gates and Jeff Bezos are backing a 3-year search for electric vehicle metals that could be used in Teslas

Bill Gates and Jeff Bezos are backing a 3-year search for electric vehicle metals that could be used in Teslas

Kate Duffy of Business Insider reports on a Bill Gates and Jeff Bezos-backed rare earth mineral venture.

The C3 Take
  • KoBold Metals, a Silicon Valley-based company that uses AI to determine where to drill for rare earth minerals, is partnering with mining group BHP to look for these minerals in Australia.
  • If successful, this partnership could establish a more secure critical mineral supply chain for the U.S. and its allies.
  • KoBold, which is backed by Bill Gates’ Breakthrough Energy Ventures, is showing that markets and innovation, not mandates, are key to a cleaner energy future.

“The companies chose Australia because the country is well endowed with the right materials needed for EVs, and it has high labor and environmental standards, House said.”

Read the full article here.

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