BYD wants to buy lithium mines

BYD plans to acquire six lithium mines on the African continent. This is according to a report in the Chinese magazine The Paper. According to the report, the mines are to supply lithium for more than 20 million EVs. The metal is the basic raw material for e-car batteries. Having its own mines makes carmakers like BYD less dependent on the global market, where prices for battery raw materials have risen sharply recently. The group has also already invested in mines in Chile and China. Tesla CEO Elon Musk tweeted a few weeks ago that the company could also enter the mining business in the future. nib