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BYD buys with 6 lithium mines in Africa

Written by Kfir Kedem – June 08, 2022

Reviewed by Asaf Kedem

Monday’s article discussed Darwinism within the automotive market. Manufacturers are doing what they can to survive within these rapidly changing times and come out on top. Chinese manufacturer, BYD, has taken control of its supply chain in order to ensure its success.

BYD has purchased 6 lithium mines in Africa. These mines have the potential to source more than 25 million tons of lithium oxide. Lithium is a key part of most EV batteries and with 25 million tons, BYD would be able to produce over 27 million electric vehicles.

Auto Trendy’s take:

The current materials market is uncertain. With shortages, the war, and inflation all happening at once – no one really knows how much any material is going to cost on a month-by-month basis. BYD has intelligently taken control over a material that is key to the company’s business by purchasing these mines. The flow of supply is guaranteed. The only question is: will the cost of purchasing and operating the mines be worth it?

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