August 8, 2022
Chinese language electrical car maker BYD is in talks to shop for six lithium mines

Chinese language electrical car maker BYD is in talks to shop for six lithium mines in Africa, The Paper reported on Tuesday, bringing up assets acquainted with the topic.

The overall assets of lithium oxide at a 2.5% grade within the six lithium mines are estimated at greater than 25 million lots, which is similar to at least one million lots of lithium carbonate.

If all of the 25 million lots of assets are mined, it might meet the ability battery call for of 27.78 million natural electrical cars. BYD’s gross sales goal in 2022 is 1.5 million cars. In line with this calculation, BYD may have get admission to to enough uncooked subject material provide for the following ten years.

In line with the above assets, a number of of the six lithium mines can start shipments subsequent month, and it’s anticipated that this lithium will also be loaded into BYD’s blade batteries within the 3rd quarter of this 12 months.

BYD has been accelerating the format of lithium assets for a very long time now. Chengxin Lithium introduced on March 22 that it plans to introduce BYD as a strategic investor. On Might 17, Salt Lake Trade Co., Ltd. stated that it’s been checking out the lithium extraction era for BYD’s 30,000-ton battery-grade lithium carbonate challenge.

On the finish of 2020, the cost of lithium carbonate was once about 50,000 yuan in step with ton, however with the gross sales quantity of new power cars hovering in 2021, lithium carbonate as soon as exceeded 500,000 yuan ($7,465) in step with ton in March this 12 months. The price of energy batteries for cars has been higher by way of 10,000 yuan to twenty,000 yuan. Increasingly more automotive corporations have begun to regulate lithium assets, together with obtaining lithium mines, in search of strategic companions, locking provide by way of signing long-term agreements, and laying out lithium battery recycling programs.

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