My understanding that SQMs ‘big plan to flood the market with Lithium is only a 5-10% increase in production, while BYD have just announced a year on year rise in profit of 203.6% for the first half of 2019.
During the January-June period, its revenue grew 14.8 percent year on year to 62.2 billion yuan. The revenue from the NEV sector surged 38.8 percent to 25.5 billion yuan.
In the six months, the automobile sales in China fell 12.4 percent year on year to 12.3 million units while the NEV sales soared 49.6 percent to 617,000 units, according to the China Association of Automobile Manufacturers.
http://www.xinhuanet.com/english/2019-08/23/c_138332338.htm
https://www.copyright link/companie...ews-for-aussie-lithium-miners-20190822-p52jt7
Also in other news, Tesla has just penned at deal to buy its batteries for its China production from Korea’s LG Chem. Now doesn’t Huayou have a deal to supply LG Chem with battery product?
https://www.bloomberg.com/news/arti...ee-to-buy-batteries-from-lg-for-china-factory
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