The partnerships with two of South Korea’s leading electric vehicle (EV) manufacturers strengthens top lithium miner SQM’s position as a major supplier to the rapidly growing EV industry.
However, this decline was offset by a surge in hybrid vehicle sales in the same time period. Hybrid vehicle sales jumped by 46 percent, or 99,832 units, compared to last year’s 68,249.
Deal specifics, including the volume and duration of lithium hydroxide supply, have not been disclosed by the firms.
The joint venture is part of the country’s nationalization strategy regarding the utilization of its lithium resources, and aims to bolster Chile’s position in the battery production sector.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article
Leave a Reply