GUANGZHOU -- China's Ganfeng Lithium is snapping up lithium mines and salt lakes abroad as it plots out an ambitious road map for growth amid a pivot to electric vehicles.
A crucial material for batteries, lithium is an increasingly hot commodity as the world seeks energy storage solutions to aid its shift to renewables, and Ganfeng plans to double production by 2025 compared to 2020 to help meet this demand. The company signed supply deals with Tesla of the U.S. in 2018 and Germany's Volkswagen in 2019.
