China’s BYD considering lithium battery plant in Argentina, foreign minister says
BYD is studying whether to manufacture lithium batteries in Argentina, Foreign Minister Pablo Quirno said on Thursday after meeting Stella Li, the Chinese electric vehicle maker’s executive vice-president. According to Quirno, the company was looking at “investment opportunities in Argentina linked to the lithium value chain, particularly in the production of batteries and energy storage…
China's BYD electric vehicle manufacturer is considering establishing a lithium battery plant in Argentina, according to Foreign Minister Pablo Quirno. This potential investment opportunity was discussed during a meeting between Quirno and Stella Li, BYD's executive vice-president. The company is exploring investment opportunities related to the lithium value chain, specifically in battery production and energy storage systems.
Quirno connected these talks to Argentina's economic agenda, stating that the country is positioning itself as a platform for projects benefiting both the domestic market and exports. BYD had previously sold only imported cars in Argentina since its entry into the market in October 2022, but it has not announced any production plans in the country.
The company's local subsidiary, BYD Auto Argentina SAU, registered with the Justice Ministry in August 2022, with a corporate purpose that includes vehicle, battery, and auto part manufacturing. For now, a car factory in Argentina is not in BYD's plans, according to Christian Kimelman, who oversees the Argentine operation. However, he acknowledged that leading the sector in the current context may require having a vision in that direction.
Most of BYD's supplies for Argentina and Mexico would come from its factory in Camacari, Brazil, which opened in October 2022 with a capacity for 150,000 vehicles per year. In March, BYD stated that it had orders for 50,000 cars each from Argentina and Mexico. Cars produced in Brazil can enter Argentina with minimal tariffs under the automotive agreement between the two Mercosur members, while vehicles from outside the bloc face a 35% tariff, except for a quota of 50,000 units reserved for Chinese brands.
BYD has also been shipping cars from China on its own vessels, unloading more than 5,000 vehicles at the port of Zarate in January. Despite BYD's failed attempt to build a lithium cathode plant in Chile, a potential lithium venture in Argentina would follow this failed endeavor.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
