BYD eyes Chilean lithium deals in search for EV fuel. mining lithium ev
Chinese electric-car juggernaut BYD Co. is looking to get into the lithium business in Latin America and Africa after prices of the key battery component surged to “unreasonable” and “not healthy” levels.
Lithium has skyrocketed to record highs after demand outpaced supply, with prices in China more than doubling this year. But Li sees the market swinging back into surplus next year as new mines come on stream, with prices “stabilizing.” BYD intends to provide technology for Chilean mines to directly extract lithium, and will secure supplies through offtake agreements with producers, Li said. From there, BYD will use the mineral to produce cathodes that will go into EV batteries, including BYD’s Blade, although it doesn’t plan to make battery cells in Chile.
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