China goes ludicrous mode in our lithium race now with these new initiatives for mandates to produce electric cars or purchase carbon credits from their peers. The results for The New Energy Cars from the previous long term state-level planning in China are very impressive already:
I would like to share today the great report from CleanTechnica on the lithium race in China. BYD backed by Warren Buffett is the solid leader in the largest market for electric cars in the world in China. BYD has become the largest manufacturer of EVs in the world in May of this year and now is breaking out of the rest of the New Energy EVs automakers with 4 of its electric cars among the 10 best-selling EVs in China in July.
"Klip said Tesla’s Nevada Gigafactory is generating excitement among all stakeholders in the lithium sector. But he added that “the real story of the lithium race is happening in China right now.”“China became the largest auto market in the world for electric cars last year and (Hong Kong-based) BYD Company is now the biggest manufacturer of electric cars in the world this year,” Klip said, adding that Warren Buffett is a stakeholder.“In China, they call battery power The New Energy, and it’s part of their current five-year plan. Twenty-five companies are making 51 models of electric cars in China already. A whole new strategic industry is being created from scratch. Ganfeng grew from $3 million dollars in sales in 2000 to $4.5 billion in market cap now.“Security of lithium supply becomes the most important factor for the leaders to keep their dominant position in the fast-changing marketplace."
Lithium Race: China’s Tech Giant LeEco To Invest $1.8 Billion To Build 400,000 Internet-connected Electric Cars A Year.