Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens Xiao Zhan cut, Snailwang, suffering march clues delivery! CTOnews.com, April 20, local time, the Chilean state-owned company CORFO announced on its website that it would grant BYD Chile qualified lithium producer status so that it could get a preferential price for battery-grade lithium carbonate quota.

CORFO said that BYD's "BYD Chile Lithium Cathode Plant (BYD Chilean positive Lithium Power Plant)" project in Chile's Antofagasta region will receive a supply of 11244 tons per year from SQM Salar until 2030.

The plant has an annual production target of 50,000 tons of LiFePO4 (Lithium Iron Phosphate) material with an investment of at least US $290 million (CTOnews.com Note: currently about RMB 1.998 billion). The factory will be put into production by the end of 2025. During its investment phase, it plans to create 500 jobs.

According to CORFO, BYD Chile is the first company in the country to provide electric buses for urban public transport as part of a public policy to promote electric vehicles. Chile's fleet of electric buses is the largest in Latin America, marking a milestone in the country's zero-emission public transport electrification using lithium-ion batteries.

In addition, with the rising price of lithium carbonate, BYD gets preferential prices for raw materials in Chile, which is expected to further enhance its competitiveness in the automotive battery industry. According to relevant research statistics, 58% of the world's lithium resources are concentrated in the South American "lithium triangle". Of these, Bolivia 21 million tons, Argentina 19.3 million tons, Chile 9.6 million tons, China only 5.1 million tons.

Related readings:

"China is now very short of lithium."

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