Ganfeng Lithium signed 5-year supply deal with BMW

Published: Dec 12, 2019 10:48

Save

It will supply German high-end car giant BMW with all its lithium needed for electric vehicle batteries 2020-2024

SHANGHAI, Dec 12 (SMM) – Ganfeng Lithium, a top lithium producer in China, has signed a five-year deal to supply German high-end car giant BMW with all its lithium needed for electric vehicle batteries, Ganfeng Lithium said in a statement Wednesday.

Based in east China's Jiangxi Province, Ganfeng is the world's third-largest and China's largest lithium compounds producer in terms of production capacity.

The €540 million ($599 million) contract will provide 100% of BMW's lithium hydroxide needs for fifth-generation battery cells from 2020-2024, said Andreas Wendt, BMW's board member in charge of purchasing.

BMW said Ganfeng extracts lithium by mining hard-rock deposits in Australia under “strict sustainability standards”.

The German carmaker will also source cobalt, another key raw material for electromobility, directly from mines in Australia and Morocco from next year.

Market commentary Lithium Battery NEV

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

7 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

7 hours ago

8 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

8 hours ago