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Nio Enters Race for Lithium With Australian Investment

Benzinga Real-time News · Sep 29, 2022 11:51

TSLA -3.40% GM +1.98% NIO +5.26% LI -5.57% XPEV +0.72%

Key Takeaways:

Nio Inc. will pay $7.7 million for 12% of Australian miner Greenwing Resources, which holds the rights for the San Jorge Lithium Project in Argentina
Nio is the latest electric vehicle maker to purchase lithium assets, following similar moves by domestic rival BYD and global names like Tesla and General Motors

By Doug Young

New energy investment patterns look set to repeat themselves with the latest race to snap up assets related to the mining of lithium, a key element used to make electric vehicle (EV) batteries.

That's our latest assessment following word that EV makerNio Inc. (NYSE...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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