BYD and Tsingshan Group abandon investment plan for lithium battery material factory in Chile

Due to market factors, BYD and Tsingshan Group have abandoned their plans to invest in lithium battery material factories in Antofagasta, Chile. BYD originally planned to invest US$290 million to build a factory with an annual output of 50,000 tons of lithium cathode materials, while Tsingshan Group planned to invest US$233 million to build a lithium iron phosphate project with an annual output of 120,000 tons.