- Warren Buffett-supported EV manufacturer BYD company BYDDY plans to build a $290 million lithium cathode factory in Chile, according to CORFO, the Chilean economic development agency.
- The proposed facility will be located in the northern region of Antofagasta in Chile, it was reported Reuters.
- The Chilean government has named BYD as a qualified lithium producer. State qualification gives BYD access to lithium carbonate quotas at preferential prices.
- The plant will use lithium carbonate as a feedstock to produce 50,000 tons of lithium iron phosphate (LFP) for the cathodes annually.
- “We hope to give a strong push to promote the production of products in the lithium value chain,” the report is quoted by CORFO Executive Vice President Jose Miguel Benavente.
- The factory is scheduled to start operations in 2025 and create 500 jobs.
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