Etiqueta: Battery

By Daina Beth Solomon SANTIAGO (Reuters) -Chinese automaker BYD and metals group Tsingshan are backing out of multi-million dollar plans to build lithium cathodes plants in Chile, a major producer of the battery metal, company and government sources told Reuters on Wednesday. The retreat by the two huge Chinese companies is a blow to Chile's aim to develop more domestic processing of lithium, a

Chinese automaker BYD and metals group Tsingshan have both informed Chilean authorities that they are withdrawing plans to construct lithium processing plants in Chile, newspaper Diario Financiero reported on Wednesday. BYD filed its intent to withdraw with the national assets ministry, while Tsingshan told development agency Corfo it would no longer pursue the project, the newspaper said. Tsingshan confirmed to Reuters that it had withdrawn its plans while BYD declined to comment.

Both companies had been selected in 2023 as strategic investors to develop value-added lithium products in Chile.

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These developments are hugely significant.

Previously, the Chinese automaker only planned to make battery-electric vehicles in Hungary and Turkey, but rising interest in plug-in hybrids caused it to pivot.

Thanks for joining us this Wednesday, May 07th 2025. Notably in car news today: Labor could toss luxury car tax, BYD Sealion 7 more popular than Tesla in Every important car news story breaking today, one convenient read

A recent breakdown incident involving the BYD Atto 3 and Audi E-Tron has caused a stir in the social media platforms.

CATL and BYD's combined EV battery installations in January-March amounted to 121.9 GWh, accounting for 55.0 percent of the global market.

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