Chinese electric vehicle manufacturer BYD obtained qualified lithium manufacturers in Chile and plans to build a lithium factory locally.
Lithium is the key material for electric vehicle batteries.Chile is currently the second largest lithium supply country in the world.
According to Reuters on Friday (April 21), BYD plans to build a USD 290 million (about S $ 387 million) BYD Chilel Lithium Power Plant (about S $ 387 million) in the Anto Gasta area in northern Chile (Byd Chile Lithium Cathode Plant).
The Chilean Economic Development Agency Corfo's official website announced on Wednesday (19th) local time that the Chilean government has listed BYD Chile as a qualified lithium producer in order to obtain preferential prices of battery -level lithium carbonate quotas.
Corfo said that BYD is the first company to provide electric buses for urban public transportation in Chile, which is part of the public policy to promote electric vehicles.
As of Friday, BYD has not responded to the request for comment.
According to a statement issued by CORFO on Wednesday, the factory will use lithium lithium carbonate as raw materials to produce 50,000 tons of lithium iron phosphate (LFP) cathode each year. It is planned to start operation in 2025 and create 500 500Employment opportunities.
Jose Miguel Benaventele, executive vice president of CORFO, said, "We want to provide strong support for the production of lithium value chain products."
Chile President Borik(Gabriel BORIC) promised to promote its economic development and protect the environment on Thursday (20th) to promote its economic development and protecting the environment.
Bloomberg reported in December last year that BYD was negotiating to participate in a mining project in Chile and was applying for processing permits.
