Tesla (NASDAQ:TSLA) on Monday backed away from terminating its supply deal with Australia’s Syrah Resources after the graphite producer demonstrated progress in meeting product qualification requirements.
The EV maker accepted that the Syrah had produced conforming natural graphite active anode material samples and made sufficient progress to tackle an alleged default under their offtake agreement, the graphite producer said in a statement.
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Qualification Work Continues
Tesla’s decision does not eliminate all uncertainty, as the automaker still retains the right to terminate the agreement if Syrah fails to secure final qualification approval.
