UPDATE 1-Tesla plans to produce lithium for 1 mln vehicles from Texas refinery -Elon Musk

(Add Musk comments on production plan)

SAN FRANCISCO, May 8 (Reuters) – Tesla expects to produce lithium for about 1 million electric vehicles at its upcoming lithium refinery factory in Texas, CEO Elon Musk said on Monday.

Tesla broke ground on the lithium refining facility, as it looks to secure supply of the key component used in batteries and meet its ambitious sales target for electric vehicles.

Musk said Tesla aims to finish construction of the factory next year and then reach full production about a year later. (Reporting by Hyunjoo Jin and Ernest Scheyder Editing by Chris Reese and Sandra Maler)