Ganfeng Lithium

Ganfeng Lithium will supply reliable and inexpensive battery basic materials for GAC AION. The firm will certainly also supply basic material to the potential providers of GAC AION. This initiative is targeted at supporting the companion to develop new electric vehicle (NEV) projects as well as step-up the innovation value as well as competitiveness of AION.

The board of the lithium miner and also refiner has actually disclosed exactly how the episode has actually struck its Chinese manufacturing after keeping in mind 'uncommon' share cost gains today.

German high-end auto giant BMW said Wednesday it had struck a deal with a Chinese supplier covering all of its own lithium needs for electric car batteries for the forthcoming five years.

Beijing’s sudden retreat on electric vehicle subsidies in the summer has caused the value of lithium to hit the floor, with disastrous effects on the balance sheets of Chinese companies which had invested big in supply chains to support anticipated huge demand.

The Chinese company is ramping up R&D efforts to try and fast-track commercialization of the more productive – and more expensive – battery tech. The news was announced as part of an uninspiring first-half update thanks to falling lithium salt prices.

Holders of almost two-thirds of the miner’s Hong Kong listed stock voted down a proposal to issue new non-Chinese shares that would dilute their investment by around a quarter. The board had proposed the move to raise funds for further lithium extraction overseas.