Tesla Reneges on Threat to Scrap Australian Graphite Deal, Sending Syrah Stock Soaring 23%

Tesla has backed away from terminating its supply deal with Australian graphite producer Syrah Resources. The decision comes after Syrah demonstrated progress in meeting product qualification requirements. Tesla accepted that Syrah had produced conforming natural graphite active anode material samples and made sufficient progress to tackle an alleged default under their offtake agreement.

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