BYD Looks to Buy Lithium Assets in Brazil in EV Raw-Material Push

10/13/2023 06:39
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BYD Looks to Buy Lithium Assets in Brazil in EV Raw-Material Push

BYD Co. is mulling the purchase of lithium mining assets in Brazil as it seeks to lock in raw-material supplies to expand its electric car production outside Asia.

  • Chinese EV maker plans to build new factory in the country
  • Founder toured Latin America; launched new model in Chile

A bulldozer moves lithium ore at a mine near Itinga, Brazil.

Photographer: Dado Galdieri/Bloomberg

BYD Co. is mulling the purchase of lithium mining assets in Brazil as it seeks to lock in raw-material supplies to expand its electric car production outside Asia.

The Chinese company’s new EV factory in Brazil will include a unit to process lithium and iron phosphate for the international market and BYD hopes it will be able to finish work in less than two years, according to Stella Li, BYD’s global vice-president.

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BYD Looks to Buy Lithium Assets in Brazil in EV Raw-Material Push

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