China’s largest lithium producers have warned of losses this year despite expected strong demand for the key battery ingredient.
A lithium mine in Salar de Atacama, Chile, October 24, 2022. Credit: Lucas Aguayo Araos via AP Images
China may have achieved supremacy in the global electric vehicle market, but all is not well with the Chinese companies that produce a key ingredient in EV batteries. Top lithium producers Tianqi Lithium Corporation and Ganfeng Lithium Group both warned shareholders in July that they would record net losses for the first half of 2024, blaming “volatility in the lithium market”.
Chinese Premier Li Qiang visited Tianqi Lithium’s plant in Perth, Australia, June 18, 2024. Credit: Tianqi Lit
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