According to BYD’s official announcement, BYD Chile branch (“BYD”) recently reached an agreement with the Chilean Production Promotion Commission (CORFO) on the production of lithium battery materials, announcing that BYD in Chile to obtain the production of lithium iron phosphate (LFP) cathode material qualification and factory construction permit.
In August 2022, the Chilean Production Promotion Council (CORFO) invited companies to provide proposals on how to develop high-value-added products of lithium carbonate and lithium hydroxide in Chile. Recently, BYD was awarded the contract to become a CORFO-designated producer, with access to the raw materials produced by the Chilean mining and chemical group, at an advantageous price, with a supply capacity of 11,244 tons per year until 2030.
BYD also signed a contract to build a lithium cathode material plant in the Antofagasta region of northern Chile. The plant is planned to have an annual production capacity of 50,000 tons, with a total investment of more than USD 290 million and is scheduled to start operations by the end of 2025 and create 500 local jobs.
In 2017, BYD’s first pure electric bus entered Santiago, Chile. In December 2022, BYD announced a partnership with ASTARA, a local auto dealership group, to provide BYD’s new energy passenger car products for the Chilean market.
