Chinese lithium producer inks 5-year supply deal with BMW
Automotive News China
Automotive News | 2018-10-2
China's largest lithium producer, Ganfeng Lithium Co., agreed to ship lithium chemicals to BMW Group¡¯s battery suppliers over the next five years.|
The agreement, signed with BMW last week, can be extended by three years, Ganfeng Lithium said.
The deal is the second of its kind that Ganfeng Lithium has secured lately with foreign companies to produce batteries for electrified vehicles.
The company reached a deal in September with Tesla Inc. to supply a fifth of its lithium hydroxide output to the U.S. EV maker from 2018-20.
In August, Ganfeng Lithium agreed to supply lithium hydroxide and carbonate to Korean battery maker LG Chem starting next year.
Ganfeng Lithium is based in Xinyu in east China¡¯s Jiangxi province and listed in Shanghai. It is preparing to launch an IPO in Hong Kong to raise capital to fund lithium mining activities in and outside China.
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