Tesla has given the green light to launch its first Gigafactory for batteries production outside the US in China, company chief Elon Musk has confirmed.
The new Shanghai plant confirms a pledge by Musk to one day set up business at the heart of Asia’s booming batteries sector.
Authorities in China are being urged to shut down “substandard” secondary lead production facilities as part of moves to boost the recycling of lead-acid batteries.
China’s lead consumption largely depends on the use of secondary lead, the chairman of the China Industrial Alliance of Renewable Energy, Li Shilong, told the Shanghai Metals Market Lead Zinc Summit in Guangxi Province.
South Korea has called on China to ensure “a fair business environment” for battery manufacturers to compete for business across the two countries.
South Korea’s trade minister Paik Un-gyu (pictured) made the plea during a meeting with his Chinese counterpart Miao Wei in Seoul, the Yonhap news agency reported.
China’s Tianqi Lithium is set to become a key shareholder of the world’s second largest producer of lithium— in a move to strengthen Chinese influence on the battery raw materials market.
Tianqi has agreed to buy a 25.9% stake in Sociedad Quimica y Minera de Chile (SQM) from Canada-based Nutrien in a deal worth more than $4 billion.