Automundo China

Chinese automaker BYD and metals group Tsingshan have not said they are backing out of planned investments in Chile, the Chinese embassy in the Latin American nation said late on Thursday. The embassy added that both firms remained open to dialogue with Chilean authorities. Chile's economic development agency on Wednesday said the two were scrapping multi-million-dollar plans to build lithium cathode plants there.

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BYD has scrapped plans to build a lithium iron phosphate (LFP) cathode factory in Chile due to a sharp drop in global lithium prices, affecting the project's profitability. Chile, the world's second-largest lithium producer, had been a site for multi-million-dollar ventures by BYD and Tsingshan Group. Reuters reports that Chile's National Economic ...

China's leading electric car manufacturer BYD is reportedly aiming to sell half of its vehicles abroad by 2030. Last year, the foreign share was only around