Tesla's biggest Chinese rival BYD is looking to secure more lithium, a key battery material, by using a faster extraction method in northern Chile, Bloomberg reports.īYD Executive Vice President Stella Li said in an interview Tuesday the company is holding talks with officials in Chile, a nation with huge lithium reserves, as well as companies in the lithium battery industry like SQM to explore new extraction technologies that would tap directly into Chilean salt flats, rather than the current technique of pumping brine and housing it in evaporation pods. A BYD exec said the company plans to offer local patents and build up the industry in Chile.The Chinese firm aims to use a more direct way to extract lithium from Chilean salt flats.Tesla rival BYD is exploring a new method of lithium mining in Chile, Bloomberg reported Tuesday.
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