Tesla to start delivering Model 3 to China buyers in March

Tesla said in statement the starting price for a Model 3 in China would be 499,000 yuan ($72,000). (Reuters)
Updated 04 January 2019

Tesla to start delivering Model 3 to China buyers in March

  • Tesla cut prices for its Model 3 last month, the third time in the last two months for the firm to adjust prices in China
  • In November, Tesla cut the prices of its Model X and Model S in China by 12 to 26 percent

BEIJING: Tesla said on Friday it plans to start delivering Model 3 cars to customers in China in March, cementing a time frame that the US electric vehicle (EV) maker’s chief executive, Elon Musk, tweeted about late last year.
The California-based firm, which aims to accelerate Chinese sales that have been hit hard by the impact of trade tension between Washington and Beijing, said in a statement the starting price for a Model 3 in China would be 499,000 yuan ($72,000).
Tesla cut prices for its Model 3 last month, the third time in the last two months for the firm to adjust prices in China.
In November, Tesla cut the prices of its Model X and Model S in China by 12 to 26 percent.
Tesla has opened a tender process to build a $2 billion plant in Shanghai — dubbed a Gigafactory — and at least one contractor has started buying materials, Reuters reported earlier last month.
The automaker has said it aims to initially produce about 3,000 Model 3 vehicles per week at the plant and localize its manufacturing and supply chain.
The factory, Tesla’s first in China, marks a major bet by the EV maker as it looks to bolster its presence in the world’s biggest auto market where it faces rising competition from a swathe of domestic rivals, while its earnings have been hit by increased tariffs on US imports.


Bolivia gears up for soaring lithium demand

Updated 3 min 43 sec ago

Bolivia gears up for soaring lithium demand

SALAR DE UYUNI, Bolivia: Over 3,600 meters above sea level on the blinding white plain of the world’s largest salt flat, landlocked Bolivia is dramatically ramping up production of lithium to cope with soaring global demand for the prized electric-battery metal.

Bolivia, among the poorest countries in South America, sits on one of the world’s largest lithium reserves, at the Salar de Uyuni — or Uyuni Salt Flats — ready to take full advantage in the coming age of the electric car.

But while it sits at the apex of South America’s “lithium triangle,” along with Chile and Argentina, Bolivia has not had the capacity to produce the metal on a commercial scale.

That will change when its Llipi plant comes online in 2020.

The factory, guarded by the army because of the metal’s value, will have an annual production capacity of 15,000 tons of lithium carbonate, project manager Marco Antonio Condoretty told AFP.

State company Yacimientos de Litio Bolivianos (YLB), established by the government of President Evo Morales in 2008 to exploit lithium in the salt flats, aims to make Bolivia the fourth-largest producer by 2021.

Morales, a leftist and former coca farmer, is counting on lithium to serve as the economic engine that lifts his country out of poverty.

YLB teamed up last year with German company ACI Systems to help develop the Uyuni complex.

It’s part of a plan to form strategic partnerships that “bring their technology and guarantee outlets,” said Condoretty.

The joint venture will manufacture electric-vehicle batteries in Bolivia for the growing European market.

China’s Xinjiang TBEA Group came on board with YLB in another joint venture in February to help extract lithium from Bolivia’s two other salt flats, in Coipasa and Pastos Grandes.

Bolivia said earlier this year that Uyuni alone likely has at least 21 million metric tons of lithium, more than double previous estimates.

Until now, the Salar de Uyuni has been a major tourist attraction, and environmentalists have raised concerns about the landscape being irreparably altered by exploiting the lithium deposits underneath.

But Condoretty insisted that lithium exploitation would use “clean technologies” and affect only about 3 percent of the salt flat.

China is the world’s biggest consumer of lithium, with 63 percent of the market, according to Ingred Garces, professor of engineering at Chile’s Antofagasta University.

With its voracious appetite for lithium, the Asian giant has positioned itself at the center of the world’s main deposits of the metal.

By 2025, China will need 800,000 tons of lithium carbonate per year to meet the growing demand for electric vehicles.

China’s Tianqui Lithium Corp. took a 24 percent stake in Chilean producer SQM last December, placing itself inside the “Lithium Triangle,” which has 80 percent of the globe’s known deposits.

Worldwide production grew 23 percent in 2018 to more than 85,000 tons.