Chinese Battery Material Supplier to Return to Profit on Surging EV Demand

What’s new: Tianqi Lithium Corp. (002466.SZ), one of the world’s largest producers of the commodity, said it expects a steep rebound in net profit for 2021, after lithium prices soared for the past year.

Tianqi is expected to post between 1.8 billion yuan ($284 million) and 2.4 billion yuan in net profit contributed to shareholders, reversing a net loss of 1.8 billion yuan for the previous year, according to its exchange filing (link in Chinese) on late Wednesday.