Chilean lithium miner, SQM, the world's second-largest lithium producer, says it has reached a long-term supply deal with Hyundai and Kia to provide the carmakers with the white metal, key to the production of electric vehicle batteries.
Hyundai and Kia will "secure a portion of (their) future lithium hydroxide supply from SQM", the SQM, which has already landed supply deals with Ford Motors and battery maker LG Energy, said in a statement.
SQM did not give financial details of the deal with the Korean automakers, but said there was "strong motivation to continue with (its) lithium hydroxide expansion plan."
The mining company’s current Chilean capacity for lithium hydroxide, made from lithium carbonate, is at 40 000 metric tons a year, according to its first-quarter results.
SQM is on track to boost output in Chile to 100 000 tons in 2025. It is also building up capacity in China and Australia.
At the end of May, SQM signed an agreement with Chilean state-run mining company, Codelco, to form a joint venture that will let SQM boost output through to 2060 at the Salar de Atacama, one of the world's most prized areas for extracting lithium.
(Reuters).
The Automotive Business Council (naamsa) has expressed concern over the recent announcement by US President Donald Trump to introduce additional tariffs on all imported products under what has been termed ‘Liberation Day’ trade measures.
Despite potential headwinds, South Africa’s automotive industry remains committed to long-term growth and resilience.
South African consumers demonstrated a strong appetite for new passenger vehicles in March, according to figures released by the Automotive Business Council (naamsa).
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A light on my car’s dashboard came on, and instead of fixing the problem, I waited for the bulb to burn out. Crisis solved.
Jarod Kintz
Another plug-in hybrid electric vehicle (PHEV) is on its way to South Africa; this time in the form of JAC Motors’ T9 2.0L TGDI PHEV double-cab bakkie.
Ford Motor Company of Southern Africa has begun full-scale production of the first-ever Ford Ranger Plug-in Hybrid Electric Vehicle (PHEV) at its Silverton Manufacturing Plant.
“We welcome the announcement by the National Treasury to allocate funds to support the local production of new-energy vehicles and batteries, as well as related manufacturing projects,” says Joubert Roux, Founder of CHARGE.
