UBS Asset Management Americas Inc. increased its position in Piedmont Lithium Inc. (NASDAQ:PLL – Get Rating) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,947 shares of the mineral exploration company’s stock after purchasing an additional 947 shares during the period. UBS Asset Management […]
Tesla Secures Huge Lithium Deal For Its Batteries With a Major Chinese Supplier
This morning China s Sichuan Yahua Industrial Group Co. announced that the company and Tesla have signed a major deal according to which Sichuan Yahua Industrial Group Co. will supply battery-grade lithium hydroxide to Tesla Inc. for the next five years. Lithium is a key battery ingredient.
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Sichuan Yahua Industrial Group Co. is an industrial group headquartered in Chengdu, capital of Sichuan Province, China. The company didn t release much information about the magnitude of its battery-grade lithium deal with Tesla. However, in a filing to the Shenzhen Stock Exchange, Yahua put the total value of its lithium contract with electric car maker Tesla at $630 million to $880 million over 2021-25, according to Reuters.