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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":666,"relatedVideos":667},112472887987728,"96e2b9da-94f9-4aea-a548-11527d5f2749","BYD secures lithium discount after buying stake in Chinese lithium miner","byd-secures-lithium-discount-after-buying-stake-in-chinese-lithium-miner","article/byd-secures-lithium-discount-after-buying-stake-in-chinese-lithium-miner",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":647,"featured":51,"reporter":648,"_editable":652,"component":653,"seo_title":543,"categories":654,"visibility":658,"author_company":49,"featured_image":659,"seo_description":647,"author_full_name":49,"author_job_title":49,"formattedDate":664,"formattedArticleDate":665},"0be63de5-a4c1-424b-9daa-534a1904f589","2022-03-25 00:00",[550,553],{"slug":551,"name":552},"africa","Africa",{"slug":554,"name":555},"byd","BYD",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,601,606,613,618,623,628,633,638],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"BYD has become the second automaker to take a stake in a major lithium miner, with a RMB 3 billion deal to acquire 5% of Shenzhen-listed Chengxin Lithium, in a move that secures supplies of the battery raw material following a surge in prices.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"China’s largest electric carmaker said the deal was made after it failed to secure “stable” lithium supplies from the market due to rapidly rising lithium prices last year. Following the investment Chengxin said it would provide lithium to BYD at “the most preferential prices.”",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"Chinese battery grade lithium carbonate prices have risen over 500% over the past year according to Benchmark’s Lithium Price Assessment, which is putting increasing pressure on the entire Chinese electric vehicle industry. BYD raised prices for its vehicles this month for the second time this year, citing rising raw material costs.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"“Gaining preferential lithium pricing through investment should allow BYD to keep its costs under control, given that automakers, including BYD, Tesla, and XPeng, have recently been pushed to announce price increases for their EV models due to rising raw material prices,” Maynie Yang, an analyst at Benchmark, said.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"Chinese electric vehicle startup Nio, one of the few companpies to not raise its prices, said on Friday that the prices for lithium were due to “opportunistic price hikes” by lithium companies.",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"BYD, a leading producer of lithium iron phosphate batteries that use lithium carbonate,  has a dominant position in China’s EV market. It sold 43,173 pure electric vehicles in February, a 451% increase from last year.",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":575},"BYD’s strategic investment in Chengxin will provide the carmaker with security of lithium supply for at least three years at discounted prices, Chengxin said.",{"type":607,"attrs":608,"content":610},"heading",{"level":609,"textAlign":49},4,[611],{"text":612,"type":575},"Rising EV prices",{"type":570,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":575},"Chengxin will guarantee priority supply of lithium carbonate, lithium hydroxide, and lithium metal products, with preferential discounts, to BYD, it said. The two companies will also collaborate on upstream lithium development.",{"type":570,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":575},"It’s the second Chinese automaker to invest in a major lithium miner after Great Wall Motor bought a stake in Pilbara Minerals in 2017. While General Motors has invested in the California-based lithium startup Controlled Thermal Resources, the company is not yet in production.",{"type":570,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":575},"The deal is BYD’s third in the lithium sector after investments in Qinghai Salt Lake and Tibet Zabuye Lithium. Chinese company Youngy Co, which is building a lithium plant in Sichuan province, is also a shareholder in BYD.",{"type":570,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":575},"Chengxin said that BYD’s surplus lithium feedstock that requires third-party processing will be sent to Chengxin as a priority.",{"type":570,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":575},"Benchmark’s Battery Grade Lithium Carbonate, EXW China, latest price is at RMB 488,500/tonne ($76,700).",{"type":570,"attrs":639,"content":640},{"textAlign":49},[641,643,645],{"text":642,"type":575},"Chengxin has said its net profit for 2021 is likely to rise by between 2,954% to 3,285.5% year-over-year due to higher lithium prices. BYD will pay RMB ",{"text":644,"type":575},"4",{"text":646,"type":575},"2.99 a share for the stake in Chengxin. Shares closed on Friday at RMB 56 a share. ","BYD has become the second automaker to take a stake in a major lithium miner, with a RMB 3 billion deal to acquire 5% of Shenzhen-listed Chengxin Lithium, in a move that secures supplies of the battery raw material following a surge in prices. China’s largest electric carmaker said the deal was made after it […]",[649],{"slug":558,"name":559,"content":650},{"job_title":561,"image":651,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"0be63de5-a4c1-424b-9daa-534a1904f589\", \"id\": \"\"}-->","article",[655],{"slug":656,"name":657},"critical-minerals","Critical Minerals","private",{"id":49,"alt":660,"name":660,"focus":660,"title":660,"source":660,"filename":661,"copyright":660,"fieldtype":662,"meta_data":663,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/2bc3e3c83d/bm-byd-taxis-credit-nikada.jpg","asset",{"alt":660,"title":660,"source":660,"copyright":660},"Mar 25, 2022","25th March 2022",[],[],1782315351557]