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Analysts said Beijing (Chinese Central Government) is quietly instructing state-owned enterprises to "hunt for" lithium resources overseas and hope to become a global leader in the lithium industry, from mining to processing. It is estimated that in the coming years, China will exert increasing influence on the lithium and other metal supplies used in EV batteries.

US media: battery fight "lithium", China's electric car industry is winning over Europe and the United States


World Wide Web

November 22 00:22attention

CNN reported on November 20, the original: China is winning the electric car "arms race" In the battle for an essential element of electric vehicles, China is winning over the United States and other countries. As the demand for electric vehicles soared, China Enterprises has reached agreements all over the world to ensure that lithium, a silver-white metal mined from Australian rocks and South American salt lakes.

China is the number one market for electric vehicles, accounting for about half of global sales. Beijing is pushing for the development of this industry in China. This requires a lot of lithium, because it is an important component of the car battery. "Who controls the lithium supply chain will control the future of electric vehicles," industry expert Simon Morse said the world is staging a battery "arms race."

Due to limited domestic lithium resources, China has already turned its attention overseas. Great Wall Motor Co., Ltd. acquired part of the equity stake in Ommoum in September. Earlier this year, Ganfeng Lithium Co., Ltd. acquired a 20% stake in a lithium mine in Argentina. Last year, Li Qi agreed to acquire the global lithium giant Chile Chemical and Mining Company slightly over 2% Of the shares.

Analysts said Beijing (Chinese Central Government) is quietly instructing state-owned enterprises to "hunt for" lithium resources overseas and hope to become a global leader in the lithium industry, from mining to processing. It is estimated that in the coming years, China will exert increasing influence on the lithium and other metal supplies used in EV batteries.

Like China, there are few lithium resources in the United States and Europe and rely on external supply. Experts believe Western companies so far have not shown any apparent interest in such investments in the electric vehicle sector by their Chinese counterparts. "They are late." China has become the largest player in the field. This year, lithium prices rose 40%. Experts say "this is an incredible bull market that never happened."

Another "lock-in" by China is the cobalt metal used to make electric cars, which is even scarcer. Nearly two-thirds of the global cobalt supply is in the war-torn Congo. Last year, China acquired a majority stake in the country's largest cobalt mine to ensure long-term supply. (Author Daniel Sayne, Ding Yuqing translation)

https://news.sina.cn/o/2017-11-22/doc-ifynwhww5994450.shtml