According to the European edition of Automotive News, China's largest lithium battery manufacturer said it has reached an agreement with Tesla to provide Tesla with 20% of its products.
It is reported that the agreement can be extended for three years from 2018 to 2020. Yanfeng Lithium will provide Tesla with 20% of its total lithium hydroxide.
Electric vehicle suppliers, including Tesla, need to ensure lithium battery supply. By the end of next year, Tesla may need up to 28,000 tons of lithium hydroxide per year to meet the needs of its vehicles. Then, all this will flow in and Panasonic's cooperation in the manufacture of Tesla batteries.
In addition, at the end of August, LG Chem signed an agreement with Chinese suppliers to deliver 48,000 tons of lithium hydroxide by the end of 2022. According to LG Chem, this is enough to make batteries for up to 1 million electric vehicles. 320 km.
Between the two transactions, Yanfeng Lithium has officially signed the two largest transactions in the history of the lithium industry. In addition, the announcement of these transactions may help to find more investors in Hong Kong plans to enter the stock market, and sponsor The company's further expansion.