Graphic: The impact of vehicle sizes on mineral demand in the EV market
While a Tata Motors Tiago battery contains only 1.1kg of LCE, a Tesla Semi truck requires over 500kg of it to operate.
Tenaris SA said on Sunday that Benteler North America Corp has called off a previously announced agreement to sell 100% of its shares in its steel pipe business to the Luxembourg-based company.
Tenaris, which produces pipes for oil and gas exploration, announced last year that it would acquire US- based Steel & Tube Manufacturing Corp for $460 million as it seeks to expand its manufacturing capabilities in the United States.
The company said it would acquire 100% of Benteler Steel on a cash-free, debt-free basis, which includes $52 million in working capital.
The deal had been expected to close in the fourth quarter of 2022.
(By Lavanya Ahire; Editing by Jason Neely)