Tesla Sought Glencore Stake But No Deal Was Cut

Tesla is said to have held talks about taking a stake in Glencore, in a sign of how electric vehicle makers are trying to build ties with the commodities sector, The Telegraph reported late.

Photo Insert: Glencore boss Gary Nagle visited Tesla's factory in California but ended without a deal.

Elon Musk's company held preliminary discussions about buying a stake of between 10% and 20% in the Swiss mining giant that also dabbles in energy trading, the Financial Times also reported.

The talks continued into March, when Glencore boss Gary Nagle visited Tesla's factory in California but ended without a deal.

Tesla reportedly had concerns over whether Glencore's coal mining business was compatible with its environmental goals, whatever they are.

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