BYD Joint Venture To Build Lithium Item Company

- Nov 05, 2016-

BYD's new energy vehicles 7+4 strategic layout, covering many aspects of life. Whether it is the use of lithium batteries or lithium battery industry needs are in a relatively strong phase.          


Based on the above considerations, BYD will cooperate with the upper reaches of lithium resources to strengthen the depth of cooperation and exchanges, to achieve the company's new energy industry strategic objectives. October 24th, BYD announced that it will work with the Qinghai Saline Lake industry, Shenzhen Zhuo domain into a common investment, the establishment of a new company, Qinghai Saline Lake BYD Resources Development Co., ltd.". The new company will be used for the development, production and sales of specialized in Saline Lake lithium resources, mainly the production of lithium carbonate, lithium hydroxide and other products.          


It is reported that the new company registered capital of 500 million yuan, of which BYD invested 245 million yuan, holding 49%, is expected to start the new company will start the construction of 30 thousand tons of lithium carbonate. Qinghai Saline Lake industry will be approved by the relevant departments, the 60 working days will be held in Qinghai,, Saline Lake, the company now has a total of 51.42% of the shares transferred to the new company.          


In addition, BYD said that the strategic cooperation with Qinghai Saline Lake industry, will help promote the company's technology, management and sales network, especially combined with advantages in power lithium battery and so on Saline Lake lithium resources, give full play to their ability to develop the ability of technical innovation and market, to achieve win-win cooperation.

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