(1% at $16 million = a valuation of $1.6 billion). 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. GANFENG LITHIUM CO., LTD. : Forcasts, revenue, earnings, analysts expectations, ratios for GANFENG LITHIUM CO., LTD. Stock | 002460 | CNE100000SF6 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 this episode we discuss the recent announcement by Lithium Americas regarding a transaction with their partner Ganfeng Lithium. 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. Required fields are marked *, I have read and accepted the Privacy Policy *. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium , one of the world's top lithium producers. Livent is known for its relationship with Tesla, being one of its main lithium hydroxide suppliers. As of 1 p.m. EST on Friday, shares of Ganfeng Lithium were trading at CNY 32.02. 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. Ganfeng, which makes battery-grade chemicals such as lithium carbonate and hydroxide and counts automaker Tesla Inc among its clients, said … Subscribe to “electrive today” by entering your email below. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium, one of the world's top lithium producers. 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. 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. Signed a strategic cooperation agreement with Tesla, and its battery suppliers for battery grade lithium hydroxide products from Ganfeng . 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. Ganfeng will supply lithium hydroxide in an amount equal to around 20 per cent of Tesla’s annual battery production, 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. In this episode we discuss the recent announcement by Lithium Americas regarding a transaction with their partner Ganfeng Lithium. And remember you can unsubscribe at any time. 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. Our newsletter is published every workday – short, to the point, and free of charge. Your email address will not be published. Tesla already purchases lithium in China from the company Ganfeng. 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. Deal will see China’s No.1 producer of lithium supplying 20 percent of its production to the electric cars maker. In fact, US-based Tesla had already signed a lithium deal with Australia’s Kidman Resources (ASX:KDR) last May. Ganfeng Lithium along with Albemarle, SQM, Tianqi Lithium, and Livent control more than 70% of the world’s lithium supply. 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 … 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. Established in 2000, Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China. Form a Joint-Venture with Lithium Americas to develop the Minera Exar lithium brine project in Argentina. 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. The contract can be extended for a further three years upon expiry. Get the latest information about companies associated with Lithium Investing Delivered directly to your inbox. The agreement will result in benefits to both parties. 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 … Ganfeng has now locked in the sector’s two biggest supply pacts, Simon Moores, managing director of Benchmark Mineral Intelligence, told Bloomberg. The agreement runs from 2018 to 2020 and could be extended by three years, Ganfeng said. We have limited the number of investor kits you can request to 20. This signing further clarified the supply and timing of lithium chemical products. 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. The industry-facing website builds on the email briefing we publish every workday since 2013. The deal could be extended by an additional three years. The contract can be extended for a further three years upon expiry. 2017. 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). For full details go to https://investingnews.com/accredited-investor-definition/ or search for "accredited investor" in the search bar above. The agreement runs from 2018 to 2020 and could be extended by three years, Ganfeng said. 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. “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. Tesla, whose share price has climbed by around 700% this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. There's been two … 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. Guests Mac Whale of Cormark and LAC CEO Jon Evans will give their perspective on the deal. Select 20, complete the request and then select again. 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. Yahua commissioned a new lithium hydroxide plant in Yaan (Sichuan province) in May 2020. Right now, it is not clear if there will be another extension of 3-years. 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 is also one of Tesla’s lithium suppliers and is also located in China. 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