Tesla will designate its battery suppliers to buy lithium-hydroxide products from Ganfeng Lithium Co. and its unit, the Jiangxi-based company said in a filing to the Shenzhen exchange on Friday. We have limited the number of investor kits you can request to 20. Tesla, whose share price has climbed by around 700 per cent this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. China's Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to U.S. electric vehicle (EV) manufacturer Tesla … This deal comes after the impending expiry of a 3-year deal for lithium hydroxide with Ganfeng Lithium. Tesla already purchases lithium in China from the company Ganfeng. But once the company reaches its Nevada gigafactory target of 35 Ghw, it may need as much as 28,000 tonnes of lithium hydroxide, the London-based firm forecasts. There's been two … Meanwhile, Tesla has also agreed an offtake deal with Ganfeng Lithium, the lithium producer said on Friday. Tesla, whose share price has climbed by around 700 per cent this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. Tesla, in particular, uses a lot of lithium hydroxide (due to its preferred battery chemistry, NCA, using high nickel cathode). Analysts cited by Reuters said the additional Yahua deal underscored Tesla’s “huge demand” for battery-grade lithium hydroxide, “especially given the ramp-up of Model Y production in Shanghai.” Ganfeng, however, would likely remain Tesla’s largest lithium supplier. Subscribe to “electrive today” by entering your email below. Ganfeng Lithium Co. Ltd. (GFL or Ganfeng) is one of the world’s leading Lithium manufacturers, established in China in 2000.It has been listed on the Shenzhen Stock Exchange since 2010 and on the Hong Kong Stock Exchange (Ticker 1772.HK) since 2018 when it raised US$ 440 million in an IPO. Ganfeng will supply lithium hydroxide in an amount equal to around 20 per cent of Tesla’s annual battery production, Ganfeng said. Ganfeng Lithium, LIT's second-largest component, is a major player in China's lithium supply chain. The agreement runs from 2018 to 2020 and could be extended by three years, Ganfeng said. Our mail-out and online service cover a wide range of relevant stories and developments in electric transport across Europe and beyond. “Established in 2000, Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China,” according to Global X research. Ganfeng Lithium along with Albemarle (NYSE:ALB), Sociedad Química y Minera de Chile (NYSE:SQM), Tianqi Lithium, and Livent control more than 70% of the world's lithium supply. Analysts cited by Reuters said the additional Yahua deal underscored Tesla’s “huge demand” for battery-grade lithium hydroxide, “especially given the ramp-up of Model Y production in Shanghai.” Ganfeng, however, would likely remain Tesla’s largest lithium supplier. Tesla, yang mulai mengirimkan kendaraan pertama dari Gigafactory di Shanghai pada Desember tahun lalu, sudah mendapatkan pasokan lithium bahan dalam baterai EV dari Ganfeng Lithium China, salah satu produsen komoditas terbesar yang ada di dunia. ... Livent has a deal to supply Tesla with lithium hydroxide through 2021, and is trying to extend the partnership, Palandrani said. Measured against this price range, the total procurement volume is expected to be between 63,000 and 88,000 tons, or 12,600 to 17,600 tons per year, according to analysts quoted by Reuters news agency. This deal comes after the impending expiry of a 3-year deal for lithium hydroxide with Ganfeng Lithium. By selecting company or companies above, you are giving consent to receive communication from those companies using the contact information you provide. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium, one of the world's top lithium producers. The Yahu deal underscores Tesla’s “huge demand” for battery-grade lithium hydroxide, “particularly in view of the ramp-up of Model Y production” in Shanghai, the Daiwa analysts wrote in a note. China’s Ganfeng Lithium lands three-year contract to supply Tesla - MINING.COM Ganfeng Lithium Co Ltd researches and produces lithium products. Its shares jumped. According to the 2019 semi-annual report, Ganfeng Lithium's overseas revenue accounted for 36.59%, a year-on-year increase of 90.43%, and the pace of internationalization was steady. Meanwhile, earlier this month, Ganfeng agreed a deal with battery maker LG Chem (KRX:051910) to almost double its supply of battery materials from 2019 to 2025. In fact, US-based Tesla had already signed a lithium deal with Australia’s Kidman Resources (ASX:KDR) last May. The agreement runs from 2018 to 2020 and could be extended by three years, Ganfeng said. Tesla, which started delivering the first vehicles from its gigafactory in Shanghai in December last year, already sources lithium – an ingredient in EV batteries – from China’s Ganfeng Lithium, one of the world’s biggest producers of the commodity. Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium , one of the world's top lithium producers. Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020. Oct 29 (Reuters) - Ganfeng Lithium 002460.SZ, 1772.HK, one of the world's top producers of the commodity used in electric-vehicle batteries, on Thursday reported a … Ultimately, the lithium hydroxide refinery will add to Tesla’s plans to set up a cathode facility in Texas, which Elon Musk has described as part of the electric car maker’s cell production plan. Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020. Our newsletter is published every workday – short, to the point, and free of charge. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium , one of the world's top lithium producers. “These deals are dwarfing the size of the entire lithium hydroxide market from only a couple of years ago,” Moores added. The contract can be extended for a further three years upon expiry. Select 20, complete the request and then select again. multi-year supply agreement with Philadelphia-based lithium producer Livent, Panasonic to launch 4680 cell production in 2021, Year in review: 2020s most electrifying moments, Car review: VW ID.4 – the Tiguan theme’s electric variant, Plug&Charge: The missing link to a breakthrough, Hyundai presents E-GMP electric car platform. Guests Mac Whale of Cormark and LAC CEO Jon Evans will give their perspective on the deal. Ganfeng & The Lithium Industry Reshuffle: TNR Gold Plugged Into The Tesla Energy rEVolution With Lithium And Copper Royalties. Aside from its Nevada gigafactory, which is operated by Panasonic (TYO:6752), Tesla also plans to open a US$2-billion plant in Shanghai, with an annual capacity of 500,000 cars. Get the latest information about companies associated with Lithium Investing Delivered directly to your inbox. Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020, but the deal could be extended by three years. Ganfeng will provide 20% of its lithium hydroxide production capacity to Tesla between 2018 and the end of 2020 at an adjustable market price, Ganfeng said. Tesla, whose share price has climbed by around 700% this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. Tesla has been sourcing lithium hydroxide from Ganfeng since 2018. 2017. Ganfeng will provide 20% of its lithium hydroxide production capacity to Tesla between 2018 and the end of 2020 at an adjustable market price, Ganfeng said. The deal could be extended by an additional three years. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium, one of the world's top lithium producers. “We expect Ganfeng will continue to be the major if not largest lithium hydroxide supplier of Tesla on the back of this strong demand.” In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … Tesla already purchases lithium in China from the company Ganfeng. Ganfeng Lithium Co., China’s top producer of the metal used in electric-vehicle batteries, seeks as much as $676 million from a first-time share sale in Hong Kong. Required fields are marked *, I have read and accepted the Privacy Policy *. Established in 2000, Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China. (adsbygoogle = window.adsbygoogle || []).push({}); electrive.com is a news service for decision makers in the electric mobility industry. Konstantin Klip. Previously, Tesla also secured a deal to get lithium from Australia and signed a lithium supply agreement with North Carolina mining project that's still in development. As of 1 p.m. EST on Friday, shares of Ganfeng Lithium were trading at CNY 32.02. And remember you can unsubscribe at any time. Tesla has signed a contract with the Chinese Sichuan Yahua Industrial Group to supply battery-grade lithium hydroxide for the next five years. – ADVERTISEMENT – (adsbygoogle = window.adsbygoogle || []).push({}); Your email address will not be published. Ganfeng has now locked in the sector’s two biggest supply pacts, Simon Moores, managing director of Benchmark Mineral Intelligence, told Bloomberg. London-listed Bacanora has now received the £21,963,740 from Ganfeng in exchange for a 29.99% equity interest and a 22.5% joint venture (JV) investment directly in the Sonora lithium project. * "We expect Ganfeng will continue to be the major if not largest lithium hydroxide supplier of Tesla on the back of this strong demand." Tesla, whose share price has climbed by around 700% this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. Tesla, in particular, uses a lot of lithium hydroxide (due to its preferred battery chemistry, NCA, using high nickel cathode). (1% at $16 million = a valuation of $1.6 billion). The deal could be extended by an additional three years. ANL 27.90 Increased By … * "We expect Ganfeng will continue to be the major if not largest lithium hydroxide supplier of Tesla on the back of this strong demand." Ganfeng Lithium is also one of Tesla’s lithium suppliers and is also located in China. “The agreement will help Ganfeng build a healthy long-term relationship with Tesla,” the company said, “which will help improve the company’s profitability, and benefit its long-term development.”. "We expect Ganfeng will continue to be the major if not largest lithium hydroxide supplier of Tesla on the back of this strong demand." China's Ganfeng to Give Tesla 20% of Its Battery Materials (Yicai Global) Sept. 21 -- In its second deal of the week, Ganfeng Lithium, one of the world's biggest makers of lithium products, and its GFL International unit have agreed to supply Tesla with 20 percent of the Chinese firm's annual output of lithium hydroxide. In this episode we discuss the recent announcement by Lithium Americas regarding a transaction with their partner Ganfeng Lithium. Ganfeng is one of the world’s largest producers of the element … For full details go to https://investingnews.com/accredited-investor-definition/ or search for "accredited investor" in the search bar above. According to Benchmark Mineral Intelligence, US-based Tesla is estimated to produce at least 26 Gwh of batteries between January 2018 and March 2019 — using around 20,000 tonnes of lithium hydroxide. Yahua may have been chosen because Tesla is seeking more localized and regional supply chains, as the company expects to have a domestic supply of spodumene online in 2022, from the … Ganfeng Lithium and BMW of Germany signed a "strategic cooperation agreement". GANFENG LITHIUM CO., LTD. : Forcasts, revenue, earnings, analysts expectations, ratios for GANFENG LITHIUM CO., LTD. Stock | 002460 | CNE100000SF6 Tesla already purchases lithium in China from the company Ganfeng. Ganfeng Lithium along with Albemarle, SQM, Tianqi Lithium, and Livent control more than 70% of the world’s lithium supply. Established in 2000, Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China. Tesla has been sourcing lithium hydroxide from Ganfeng since 2018. Previously, Tesla also secured a deal to get lithium from Australia and signed a lithium supply agreement with North Carolina mining project that's still in development. According to a report from the Shenzhen Stock Exchange, the contract is worth between 513 and 716 million euros. Lithium Forecast 2021: Execs Optimistic on Long-term EV Trend, Lithium Trends 2020: Supply Chain Resilience Takes Center Stage, Cobalt Trends 2020: EV Makers Still Need Cobalt, Top Battery Metals Stocks on the TSX and TSXV, Start Here! ANL 27.90 Increased By … Analysts cited by Reuters said the additional Yahua deal underscored Tesla’s “huge demand” for battery-grade lithium hydroxide, “especially given the ramp-up of Model Y production in Shanghai.” Ganfeng, however, would likely remain Tesla’s largest lithium supplier. Shares of Chinese top lithium producer Ganfeng Lithium (SHE:002460) jumped more than 10 percent on Friday (September 21) after the miner signed a supply deal with electric car maker Tesla (NASDAQ:TSLA). In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … The agreement will result in benefits to both parties. Note: Mac misspeaks on the project valuation implied by the 1% of the project Ganfeng is purchasing. Whether you are an accredited investor or not depends on where you live and other criteria. Free Reports for New Investors, Resource Investing in Australia: Stocks to Watch, Industrial Metals Outlook and Stocks to Watch, Base Metals Outlook And Investing Opportunities, Copper Price Outlook and Copper Stocks to Watch, Tech Forecast and Promising Tech Stocks To Buy, Archived - Emerging Tech: Advances in AI, Virtual Reality and Mobile, Life Science and Healthcare Investing in 2021, Psychedelics Outlook - Plotting a New Course, Coronavirus Investing: An Overview for Investors, Archived - Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Archived - Biotech Investing - Top Stocks, ETFs and Future Prospects. China's Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to U.S. electric vehicle (EV) manufacturer Tesla … Please remember that by requesting an investor kit, you are giving permission for those companies to contact you using whatever contact information you provide. Guests M... – Lytt til Q&A: Ganfeng - LAC, Luke, Tesla & Coronavirus fra The Global Lithium Podcast direkte på mobilen din, surfetavlen eller nettleseren - ingen nedlastinger nødvendig. If you want more than 20 investor kits, you need to make multiple requests. The Ganfeng-Tesla deal is another sign that electric car makers continue to look for ways to secure supply for the expected increase in electric car sales. Ganfeng, which makes battery-grade chemicals such as lithium carbonate and hydroxide and counts automaker Tesla Inc among its clients, said … Tesla also gets lithium from China’s Ganfeng Lithium, one of the world’s largest producers of the material. I also discuss the recent run-up in Tesla stock and caution lithium investors not to get too excited about the likely short term impact Tesla's performance has had on certain lithium stocks. Ganfeng Lithium along with Albemarle, SQM, Tianqi Lithium, and Livent control more than 70% of the world’s lithium supply. Made in Germany! In this episode we discuss the recent announcement by Lithium Americas regarding a transaction with their partner Ganfeng Lithium. The industry-facing website builds on the email briefing we publish every workday since 2013. This signing further clarified the supply and timing of lithium chemical products. Its shares jumped. Meanwhile, Tesla has also agreed an offtake deal with Ganfeng Lithium, the lithium producer said on Friday. Your trusted source for investing success. Your email address will not be published. Signed a strategic cooperation agreement with Tesla, and its battery suppliers for battery grade lithium hydroxide products from Ganfeng . Although, exact volumes of the agreement were not mentioned. Deal will see China’s No.1 producer of lithium supplying 20 percent of its production to the electric cars maker. Tesla will designate its battery suppliers to buy lithium-hydroxide products from Ganfeng Lithium Co. and its unit, the Jiangxi-based company said in a filing to the Shenzhen exchange on Friday. Form a Joint-Venture with Lithium Americas to develop the Minera Exar lithium brine project in Argentina. Yahua commissioned a new lithium hydroxide plant in Yaan (Sichuan province) in May 2020. Yahua may have been chosen because Tesla is seeking more localized and regional supply chains, as the company expects to have a domestic supply of spodumene online in 2022, from the Lijiagou mine in Sichuan, according to Daiwa. Ultimately, the lithium hydroxide refinery will add to Tesla’s plans to set up a cathode facility in Texas, which Elon Musk has described as part of the electric car maker’s cell production plan. This doubled the company’s capacity to around 40,000 tons per year, according to Reuters. Tesla will designate its battery suppliers to buy lithium-hydroxide products from Ganfeng Lithium Co. and its unit, the Jiangxi-based company said in a filing to the Shenzhen exchange on Friday. Tesla also gets lithium from China’s Ganfeng Lithium, one of the world’s largest producers of the material. Don’t forget to follow us @INN_Resource for real-time updates! Livent is known for its relationship with Tesla, being one of its main lithium hydroxide suppliers. Livent's location, like Ganfeng, gives it an advantage. Ganfeng will supply lithium hydroxide in an amount equal to around 20 per cent of Tesla’s annual battery production, Ganfeng said. Investment in Pilbara Minerals Tesla also sources lithium from China’s Ganfeng Lithium, among others, though the company’s supply needs are through the roof right now as the world begins a major transition to EVs. In May, Yahua began operating a new lithium hydroxide plant which is capable of producing 20,000 tons per year of the compound. https://www.electrive.com/2021/01/04/tesla-purchasing-lithium-from-chinas-yahua-group/. Some investment opportunities are limited to accredited investors. The agreement will result in benefits to both parties. Right now, it is not clear if there will be another extension of 3-years. In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … The contract can be extended for a further three years upon expiry. Q&A: Ganfeng - LAC, Luke, Tesla & Coronavirus By Joe Lowry. Right now, it is not clear if there will be another extension of 3-years. Tesla has locked in a five-year lithium supply partnership with China’s Sichuan Yahua Industrial Group Co., the latter company stated on Tuesday. In November, it was announced that Tesla had also signed a multi-year supply agreement with Philadelphia-based lithium producer Livent. In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … Is not clear if there will be another extension of 3-years supply battery-grade lithium hydroxide with Ganfeng.. Search bar above companies above, you need to make multiple requests producer of lithium supplying 20 percent its. Make multiple requests production, Ganfeng said 20 percent of its production to the electric cars maker latest about! Chinese Sichuan Yahua Industrial Group to supply Tesla with lithium Americas to develop the Minera Exar lithium brine in..., LIT 's second-largest component, is a major player in China from the Ganfeng! See China ’ s Ganfeng lithium like Ganfeng, gives it an advantage KDR ) last.. 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