China’s Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to US electric vehicle (EV) manufacturer Tesla Inc for the next five years.
Yahua, which is based in southwest China’s Sichuan province, put the total value of the contract, signed by its wholly-owned subsidiary Yaan Lithium, at $630-$880 million over 2021-25, a Shenzhen Stock Exchange filing showed.
Analysts at Daiwa Capital Markets said that value translated into a total lithium hydroxide procurement amount of 63,000-88,000 tonnes, or 12,600-17,600 tonnes per annum. — Reuters
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