Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article. Tesla, whose share price has climbed by around 700 per cent this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. Although, exact volumes of the agreement were not mentioned. China's Ganfeng to Give Tesla 20% of Its Battery Materials (Yicai Global) Sept. 21 -- In its second deal of the week, Ganfeng Lithium, one of the world's biggest makers of lithium products, and its GFL International unit have agreed to supply Tesla with 20 percent of the Chinese firm's annual output of lithium hydroxide. Analysts cited by Reuters said the additional Yahua deal underscored Tesla’s “huge demand” for battery-grade lithium hydroxide, “especially given the ramp-up of Model Y production in Shanghai.” Ganfeng, however, would likely remain Tesla’s largest lithium supplier. GANFENG LITHIUM CO., LTD. : Forcasts, revenue, earnings, analysts expectations, ratios for GANFENG LITHIUM CO., LTD. Stock | 002460 | CNE100000SF6 Required fields are marked *, I have read and accepted the Privacy Policy *. Shares of Chinese top lithium producer Ganfeng Lithium (SHE:002460) jumped more than 10 percent on Friday (September 21) after the miner signed a supply deal with electric car maker Tesla (NASDAQ:TSLA). Subscribe to “electrive today” by entering your email below. ANL 27.90 Increased By … Tesla has signed a contract with the Chinese Sichuan Yahua Industrial Group to supply battery-grade lithium hydroxide for the next five years. Measured against this price range, the total procurement volume is expected to be between 63,000 and 88,000 tons, or 12,600 to 17,600 tons per year, according to analysts quoted by Reuters news agency. Ganfeng will provide 20% of its lithium hydroxide production capacity to Tesla between 2018 and the end of 2020 at an adjustable market price, Ganfeng said. Form a Joint-Venture with Lithium Americas to develop the Minera Exar lithium brine project in Argentina. And remember you can unsubscribe at any time. (adsbygoogle = window.adsbygoogle || []).push({}); electrive.com is a news service for decision makers in the electric mobility industry. The deal could be extended by an additional three years. In this episode we discuss the recent announcement by Lithium Americas regarding a transaction with their partner Ganfeng Lithium. Tesla also sources lithium from China’s Ganfeng Lithium, among others, though the company’s supply needs are through the roof right now as the world begins a major transition to EVs. As of 1 p.m. EST on Friday, shares of Ganfeng Lithium were trading at CNY 32.02. Ganfeng Lithium Co. Ltd. (GFL or Ganfeng) is one of the world’s leading Lithium manufacturers, established in China in 2000.It has been listed on the Shenzhen Stock Exchange since 2010 and on the Hong Kong Stock Exchange (Ticker 1772.HK) since 2018 when it raised US$ 440 million in an IPO. Tesla, yang mulai mengirimkan kendaraan pertama dari Gigafactory di Shanghai pada Desember tahun lalu, sudah mendapatkan pasokan lithium bahan dalam baterai EV dari Ganfeng Lithium China, salah satu produsen komoditas terbesar yang ada di dunia. “The agreement will help Ganfeng build a healthy long-term relationship with Tesla,” the company said, “which will help improve the company’s profitability, and benefit its long-term development.”. By selecting company or companies above, you are giving consent to receive communication from those companies using the contact information you provide. Tesla will designate its battery suppliers to buy lithium-hydroxide products from Ganfeng Lithium Co. and its unit, the Jiangxi-based company said in a filing to the Shenzhen exchange on Friday. * "We expect Ganfeng will continue to be the major if not largest lithium hydroxide supplier of Tesla on the back of this strong demand." It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium, one of the world's top lithium producers. Oct 29 (Reuters) - Ganfeng Lithium 002460.SZ, 1772.HK, one of the world's top producers of the commodity used in electric-vehicle batteries, on Thursday reported a … Previously, Tesla also secured a deal to get lithium from Australia and signed a lithium supply agreement with North Carolina mining project that's still in development. Livent's location, like Ganfeng, gives it an advantage. Signed a strategic cooperation agreement with Tesla, and its battery suppliers for battery grade lithium hydroxide products from Ganfeng . Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020. 2017. Yahua commissioned a new lithium hydroxide plant in Yaan (Sichuan province) in May 2020. Ganfeng Lithium along with Albemarle, SQM, Tianqi Lithium, and Livent control more than 70% of the world’s lithium supply. The Ganfeng-Tesla deal is another sign that electric car makers continue to look for ways to secure supply for the expected increase in electric car sales. It already sources lithium - an ingredient in EV batteries - from China's Ganfeng Lithium , one of the world's top lithium producers. According to Benchmark Mineral Intelligence, US-based Tesla is estimated to produce at least 26 Gwh of batteries between January 2018 and March 2019 — using around 20,000 tonnes of lithium hydroxide. Established in 2000, Ganfeng is the third-largest lithium compound producer in the world and the leading producer in China. 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China's Sichuan Yahua Industrial Group Co Ltd said on Tuesday it had signed a deal to supply battery-grade lithium hydroxide to U.S. electric vehicle (EV) manufacturer Tesla … Ganfeng, which makes battery-grade chemicals such as lithium carbonate and hydroxide and counts automaker Tesla Inc among its clients, said … Yahua may have been chosen because Tesla is seeking more localized and regional supply chains, as the company expects to have a domestic supply of spodumene online in 2022, from the Lijiagou mine in Sichuan, according to Daiwa. London-listed Bacanora has now received the £21,963,740 from Ganfeng in exchange for a 29.99% equity interest and a 22.5% joint venture (JV) investment directly in the Sonora lithium project. Meanwhile, Tesla has also agreed an offtake deal with Ganfeng Lithium, the lithium producer said on Friday. In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … Tesla, whose share price has climbed by around 700 per cent this year, started delivering the first vehicles from its gigafactory in Shanghai in December 2019. Analysts cited by Reuters said the additional Yahua deal underscored Tesla’s “huge demand” for battery-grade lithium hydroxide, “especially given the ramp-up of Model Y production in Shanghai.” Ganfeng, however, would likely remain Tesla’s largest lithium supplier. https://www.electrive.com/2021/01/04/tesla-purchasing-lithium-from-chinas-yahua-group/. Tesla already purchases lithium in China from the company Ganfeng. Previously, Tesla also secured a deal to get lithium from Australia and signed a lithium supply agreement with North Carolina mining project that's still in development. In September, Ganfeng revealed that it has an agreement with Tesla to supply the EV maker with 20% of its annual lithium hydroxide production through … There's been two … But once the company reaches its Nevada gigafactory target of 35 Ghw, it may need as much as 28,000 tonnes of lithium hydroxide, the London-based firm forecasts. Ganfeng said it will supply lithium hydroxide products for Tesla’s batteries from 2018 to 2020, but the deal could be extended by three years. Some investment opportunities are limited to accredited investors. multi-year supply agreement with Philadelphia-based lithium producer Livent, Panasonic to launch 4680 cell production in 2021, Year in review: 2020s most electrifying moments, Car review: VW ID.4 – the Tiguan theme’s electric variant, Plug&Charge: The missing link to a breakthrough, Hyundai presents E-GMP electric car platform. 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