Oct 18, 2023 05:30 AM

BUSINESS

China’s Tsingshan to Invest $233 Million in Chile Lithium Plant

By Lu Yutong and Denise Jia

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What’s new: Chinese stainless steel and nickel giant Tsingshan Holding Group Co. will invest $233 million to set up a plant in Chile to produce lithium iron phosphate (LFP), used to power electric vehicles, Chilean President Gabriel Boric said Monday.

The Chilean president announced the investment during his visit to China for the Belt and Road Forum. He also met with Tsingshan Chairman Xiang Guangda in Beijing.

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