To Ensure The Supply Of Nickel, BYD Intends To Establish A Joint Venture With Related Suppliers.

- Nov 13, 2019-

According to foreign media reports, local time on April 12, a Chinese electric vehicle and battery manufacturer BYD executive said that the availability of sufficient nickel supply is a major concern for electric car companies, adding that the company will welcome Establish joint ventures with other companies to ensure the supply of nickel materials.

Nickel is one of the key components of electric vehicle batteries. Today, the chemical composition of the battery shifts to a higher nickel content, so that the electric vehicle can last longer on a single charge. This trend is expected to further boost the industry's demand for nickel materials.

BYD Purchasing Director CocoLiu said at the Fastmarkets Battery Materials Conference, "The future supply of nickel is a major concern for every electric vehicle manufacturer." Earlier, analysts said at the meeting if the Indonesia-led Indonesian nickel project Failure to deliver, there will be a shortage of nickel in the market.

CocoLiu said that BYD is not only looking for suppliers that can provide high-quality products, but also those who have experience in joint ventures and can build a supply chain covering the entire electric vehicle from upstream mining, battery materials to finished products. Business.

Liu added that the joint venture is a good development direction and can save costs. BYD hopes to have a diversity of its supplier base to reduce risk. Liu also said that although there is a potential increase in demand for battery raw materials, buying a stake in a mine requires a lot of investment and capital, and it will also bring risks. “Even if material prices fluctuate, we still hope to have a safe and stable supply, which will also help our final product sales and development.”