Jan 01 2021

China's Yahua Agrees to Supply Tesla with Lithium for EV's

 

China's Sichuan Yahua Industrial Group Co., Ltd. said on Tuesday that it signed an agreement to supply battery-grade lithium hydroxide to Tesla Corporation for the next five years. The deal will give Tesla a steady supply of lithium, a major component of electric vehicle batteries in the world's largest auto market. As reported by Reuters, Jehua estimated the total value of the contract, signed by its wholly-owned subsidiary Yaan Lithium, at $ 630 to $ 880 million through 2025, according to a deposit with the Shenzhen Stock Exchange. Daiwa Capital Markets analysts who spoke to Reuters said the value translated into total lithium hydroxide purchases of 63,000 to 88,000 metric tons or about 12,600 to 17,600 tons per year.