It’s been a good time to be BYD, the Chinese automaker known for offering a wide range of electric vehicles. Reuters reported that BYD’s 2024 vehicle sales put it above the likes of Honda and Ford in terms of global sales. (Keep in mind that that’s also without having a presence in the U.S. market.) And if you’re a growing EV manufacturer, there are plenty of things you’ll need more of — with lithium high on that list.
As Fabio Teixeira reports at Reuters, the search for more lithium could lead to BYD expanding its mining operations to other corners of the globe. To be more specific, the EV company might soon be doing a lot more digging in Brazil. A review of public documents revealed that Exploracao Mineral do Brasil, a company owned by BYD, obtained mining rights for two different stretches of land in Brazil’s Jequitinhonha Valley.
Teixeira points out that these two potential mining sites are also relatively close to a BYD factory. He also notes that this isn’t BYD’s first attempted foray into lithium mining in the Americas; the company has also sought to increase its presence in Chile.
Arkansas Is Getting a Lithium Mine of Its Own
And the company behind it might surprise youBYD’s interest in Brazilian lithium is part of a larger boost to that country’s mining industry. In a report for S & P Global last year, Anne Barbosa and Adriana Carvalho observed that Brazilian lithium exports could increase by a factor of five between 2023 and 2028.
There are some issues facing would-be lithium miners in Brazil. Barbosa and Carvalho also noted that the location of lithium deposits in the country could lead to logistical challenges getting it to ports. For now, however, growth in the short term seems like a solid bet.
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