Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

China's BYD in talks with Brazil's Sigma Lithium on supply deal -FT

Published 01/14/2024, 01:55 AM
Updated 01/14/2024, 02:00 AM
© Reuters. FILE PHOTO: A BYD electric vehicle (EV) Qin moves on a street in Beijing, China October 31, 2023. REUTERS/Tingshu Wang/File Photo

(Reuters) - Chinese electric car-maker BYD (SZ:002594) has held talks with Brazil's Sigma Lithium (TSXV:SGML) over a possible supply agreement, joint venture or acquisition, the Financial Times reported on Sunday.

BYD met Sigma Chief Executive Ana Cabral Gardner in Sao Paulo last month, BYD's Brazilian chair, Alexandre Baldy, told the newspaper, but did not give details, citing a confidentiality agreement.

BYD and Sigma did not immediately respond to Reuters requests for comment.

Sigma said in January it had initiated a primary listing of Sigma Brazil on Nasdaq and the Singapore stock exchange.

BYD, backed by Warren Buffet's Berkshire Hathaway (NYSE:BRKa), said in July it would invest 3 billion reais ($600 million) in a new industrial complex in northeastern Brazil, with operations expected to start in mid-2024.

($1 = 4.8539 reais)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.