After conquering Electric Bus space Warren Buffett backed BYD is moving now in Electric Trucks with another serious investment into new production facility dedicated to pure EVs. BYD is among few companies in China building its own Megafactory to produce lithium batteries in mass volume, it will bring the costs down and allows them to roll out new lines of EVs. Delivery trucks will be the game changer for all heavily polluted Chinese megalopolises and further restrictions on the ICE powered trucks in the cities will be driving the demand for BYD EVs.
One more Chinese group has announced investment in electric cars. Largest auto-market in the world and "War on Pollution" with state-level incentives have already produced the largest Lithium Market in the world. Saab joins the EV club in China with Foxconn, BYD, SAIC, Guanzhou Auto, Chinese J/V with BMW, Mercedes-Benz and VW Group among many others. Lithium technology is making its way into the mass market for electric cars. With increased level of production for lithium batteries the costs will come down and we will have the dramatic increase of much cheaper EVs available to buy. You can find more information about Chinese companies involved in EV production on my blog.
How to achieve the explosive growth like International Lithium's strategic partner Ganfeng Lithium? You need to have the largest auto-market in the world, "War on Pollution" and state-level support for the new strategic industry - electric cars. After Tesla Gigafactory, LG Chem, BYD, Foxconn, Boston Power and A123 are building their own Megafactories. New automakers, like Guanzhou Auto in China are moving now into electric space with announcements almost every month. International Lithium is building strategic supply chain for Ganfeng Lithium, our J/V in Ireland and Argentina are financed by Ganfeng and now we are receiving results.
"Mr. Kirill Klip, President, International Lithium Corp. comments, "We are highly encouraged by what we are learning about the thick brine aquifers at Mariana. We look forward to completing the pump test which will give us a sense of the potential productivity of wells in these aquifers and we are confident that our plan to acquire these key preliminary hydrological results prior to a mineral resource estimation is both an expeditious and cost effective approach toward an initial production assessment."
Gary Schellenberg, CEO and Executive Chairman, notes that "Success in the initial drilling program by intersecting pegmatites under cover confirms the exploration strategy and methods we are applying in the Avalonia project. This gives us confidence as we move ahead with plans to test both new and historical targets we are developing along the lithium belt."
"Joe Lowry has published a very interesting article about the lithium market, major producers and rising Chinese powerhouses in lithium industry. You can find now more details on International Lithium strategic partner Ganfeng Lithium. Apple Electric iCar and Warren Buffet BYD move into energy storage to chase Elon Musk with his Tesla Gigafactory bring Lithium back onto the radar screens of investors now. Read more."
"BYD Auto will invest 5 billion yuan ($805.83 million) to build a factory for electric vehicles in Changsha.
The auto company reached an agreement with Yuhua district on May 18 to build the new factory for electric trucks and special vehicles as the second phase of Changsha BYD (Build Your Dreams). The project is expected to begin production by the end of the year.
Changsha’s top leader Yi Lianhong met with Wang Chuanfu, the head of BYD, and congratulated him on BYD’s achievements in Changsha. He said that BYD has stuck to a path of environmental protection and energy saving, and that the company has made positive explorations to the country’s economic development.
Yi further added that Changsha has become a new growth pole for China’s auto industry, with enhanced supporting capacity and an increasingly vigorous consumer market. He hoped the two sides could cooperate further on auto vehicles, new energy, and manufacturing.
Wang said that the launch of the electric truck project in Changsha makes the city the only BYD base that produces both passenger and commercial vehicles. BYD will build a new energy vehicle base in Changsha, exporting all over the world, he said.
Edited by Zhang Qiong, Andrew Ancheta
Source: Changsha Evening News"