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.