Chinese EV maker BYD advances $290 million lithium project in Chile for mining access

By Breanne Deppisch

Published July 4, 2023 8:00am ET

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Chinese EV maker BYD advances $290 million lithium project in Chile for mining access — An excavator scoops lithium-packed salt into a dump truck at the SQM mine in the Atacama desert in Chile, April 2023. Chinese EV maker BYD announced a $290 million investment build a lithium cathode processing factory in the country, giving it more strategic access to Chile's lithium reserves. (AP/Rodrigo Abd)

Chinese electric vehicle maker BYD deployed an engineering team to Chile this week to kick-start a massive lithium processing plant, part of a broader investment shift from electric vehicle makers around the world to compete for limited access to critical minerals.

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