Chinese electric car maker BYD 002594 has held talks with Brazil’s Sigma Lithium SGML over a possible supply agreement, joint venture or acquisition, the Financial Times reported on Sunday.
BYD met with Sigma CEO Ana Cabral Gardner in Sao Paulo last month, BYD Brazilian Chairman Alexandre Baldy told the newspaper, but did not provide details, citing a confidentiality agreement.
BYD and Sigma did not immediately respond to Reuters requests for comment.
Sigma said in January it had initiated an initial public offering of Sigma Brazil on Nasdaq and the Singapore Stock Exchange.
BYD, which is backed by Warren Buffet’s Berkshire Hathaway BRK.A , said (link) in July that it would invest 3 billion reais ($600 million) in a new industrial complex in northeastern Brazil that is expected to begin operations in mid-2024.
(1 Dollar = 4.8539 Reais)
2024-01-14 15:50:20
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