BYD Invests $290 Million in Lithium Mining and Strengthens Position in Electric Vehicles Market

Written by Roberta Souza

Published on 08/07/2023 at 11:37

Foto: reprodução. Fonte: Autoentusiastas

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Beyond The Billion-Dollar Investment Made In Bahia, Chinese Giant Now Seeks To Invest In The Oil Of The Future, Lithium

BYD, the Chinese electric car giant, is expanding its operations to Chile as part of an ambitious lithium mining project. The South American country hosts the largest reserves in the world of this essential metal for electric vehicle battery production, becoming a strategic point for the company. BYD plans to invest US$ 290 million in a lithium cathode factory in northern Chile, aiming for direct access to the region’s valuable lithium reserves.

BYD is already the second largest battery manufacturer in the world, and the expansion to Chile strengthens its position in the electric vehicle market. The Chinese company has secured access to preferential pricing for lithium carbonate in the South American country, thanks to the special status granted by the Chilean government due to its plans to build the plant. The factory is expected to start producing lithium iron phosphate for cathodes by the end of 2025.

“Now, we are sending the engineering team to conduct the feasibility study and select the site,” said Stella Li, Executive Vice President of BYD. The demand for clean energy is driving the electric vehicle and rechargeable battery industry; however, these industries face challenges related to raw material shortages. To ensure future supply, many manufacturers are investing in mining and processing projects, as is the case with BYD.

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Contracts In Chile

In Chile, BYD is finalizing contracts for its project at a time when the government is adopting a new lithium extraction model, which grants the State a stake in new ventures. Additionally, the Chilean government is ramping up efforts to encourage investment in the downstream sector. BYD is willing to collaborate with Chilean authorities, including offering its technology to the government.

Thanks to the status of specialized lithium producer granted, BYD will have access to preferential prices for 11,244 metric tons per year of lithium carbonate for batteries until 2030, supplied by the Chilean company SQM, the second largest lithium producer in the world.
With the expansion of its operations to Chile and the construction of a new factory in Bahia, BYD consolidates its position as one of the leading companies in the electric vehicle sector. Furthermore, it contributes to the development of the clean energy industry in both Brazil and Chile, driving the transition to a more sustainable future.

BYD Invests $290 Million in Lithium Mining and Strengthens Position in Electric Vehicles Market

Beyond The Billion-Dollar Investment Made In Bahia, Chinese Giant Now Seeks To Invest In The Oil Of The Future, Lithium

Contracts In Chile

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Astronomers discover black hole wind traveling at 323 million km/h, a speed equivalent to 30% of the speed of light and considered a record.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

A man went to the supermarket in China with the salary of a single day’s work, and what he put in the cart will make any Brazilian question why they pay so much to eat so little.

While scientists test giant balls on the seabed, a startup wants to sink concrete and steel tanks held by cages filled with stones up to 700 meters deep to transform compressed air into an invisible underwater battery.

Former NASA engineer transforms drones into “seed helicopters” capable of firing 300 balls per minute, targeting degraded areas with half-meter precision, and planting up to 40 million trees per year in a new race for aerial reforestation.

The La Galerie Nortis, a real estate launch by developers Cyrela and Nortis in Moema, São Paulo, arrives with apartments featuring 4 suites ranging from 283 to 416 square meters, an estimated gross development value of R$ 765 million, and the proposal to redefine the high standard in the region.

BYD Invests $290 Million in Lithium Mining and Strengthens Position in Electric Vehicles Market

Beyond The Billion-Dollar Investment Made In Bahia, Chinese Giant Now Seeks To Invest In The Oil Of The Future, Lithium

Contracts In Chile

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Toyota launches “family hybrid van” with 7 or 8 seats, 1.8 hybrid engine, fuel consumption of up to 23.8 km/l, and a price equivalent to about R$ 104,000 without taxes, below the Tiggo 8 Pro Plug-in Hybrid sold in Brazil: meet the Noah Hybrid 2026 in Japan.

Astronomers discover black hole wind traveling at 323 million km/h, a speed equivalent to 30% of the speed of light and considered a record.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

Instead of plastering the wall, Argentine architects left ordinary bricks exposed, without traditional mortar, without finishes, without paint, and created a perforated pavilion that looks like an art installation.

With 100 discarded pallets and simple tools, the project creates a 23 m² shelter, recycles wood used in the transport of humanitarian aid, and transforms temporary housing for refugees.

Asian battery manufacturer becomes a partner in a rare earth and niobium project in Minas Gerais, with estimated reserves of 70 million tons and operations expected to start in 2027.

Scotland creates a brick made with over 95% recycled debris, eliminates kiln firing, and attempts to reinvent a piece used in construction for almost a thousand years.

In Taipei, 1.5 million recycled plastic bottles were saved from becoming waste, turned into building blocks, and formed a nine-story pavilion for an international exhibition.

A man went to the supermarket in China with the salary of a single day’s work, and what he put in the cart will make any Brazilian question why they pay so much to eat so little.

While scientists test giant balls on the seabed, a startup wants to sink concrete and steel tanks held by cages filled with stones up to 700 meters deep to transform compressed air into an invisible underwater battery.

Former NASA engineer transforms drones into “seed helicopters” capable of firing 300 balls per minute, targeting degraded areas with half-meter precision, and planting up to 40 million trees per year in a new race for aerial reforestation.

The La Galerie Nortis, a real estate launch by developers Cyrela and Nortis in Moema, São Paulo, arrives with apartments featuring 4 suites ranging from 283 to 416 square meters, an estimated gross development value of R$ 765 million, and the proposal to redefine the high standard in the region.