Tesla, Syrah Resources Push Deadline to Resolve Alleged Default in Graphite Supply Deal

MT Newswires Live16:11

Tesla (TSLA) and Syrah Resources have agreed to extend the deadline to resolve an alleged default under their graphite offtake agreement, the Australian graphite miner said Monday.

Syrah said it had received a notice from the electric vehicle maker claiming that the company had defaulted on an obligation and requiring it to resolve the issue by Monday.

Without admitting any breach, Syrah said both parties have agreed to pushed the cure date to June 1.

The agreement covers the supply of natural graphite active anode material from Syrah's facility in Vidalia, Louisiana.

Tesla didn't immediately respond to MT Newswires' request for comment.

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