BMW will invest USD 300 million to export Argentine lithium for its global production of electric cars

BMW will invest USD 300 million to export Argentine lithium for its global production of electric cars

The firm expects that at least half of the company’s global sales will come from fully electric vehicles by 2030, thus increasing the need for lithium, an important raw material for battery production.

The BMW Group will accelerate its expansion of electric mobility in the coming years and for that it announced an investment of USD 300 million to export lithium from Catamarca for its global production of electric cars., as reported by the company of German origin through a statement.

The firm expects that at least half of the company’s global sales will come from fully electric vehicles by 2030, thus increasing the need for lithium, an important raw material for battery production. For this reason, BMW announced that it will source lithium from a second leading supplier, Livent, based in the United States.

The company reported that it will increase its sales of fully electric vehicles by an average of more than 50 percent per year, more than ten times the number of units sold in 2020.

“Lithium is one of the key raw materials for electromobility. By sourcing lithium from a second supplier, we are securing the requirements for the production of our current fifth generation battery cells. At the same time, we are becoming technologically, geographically and geopolitically less dependent on individual vendors.“, He said Andreas Wendt, member of the Board of Directors of BMW.

The BMW Group has already signed a contract for the acquisition of lithium from so-called hard rock deposits in Australian mines in 2019. Now, the company is expanding its supplier base and additionally lithium from Argentina, where the raw material is obtained from brine. of the salty lakes.

Sustainable lithium extraction in Argentina

Livent was selected by BMW as the world’s second largest lithium supplier, in addition to Australia, due to environmental and social studies that indicated that this company emits 25% less greenhouse gases (GHG) than traditional lithium production methodsIt has an efficient use and management of water and does not add harmful chemicals to its production.

Livent obtains lithium from a brine resource in Catamarca, using a method that is particularly sustainable. To minimize the impact on the ecosystem environment, most of the used brine is returned directly to the surrounding habitat and not evaporated.

Livent obtains lithium from a brine resource in Catamarca, using a method that is particularly sustainable. To minimize the impact on the ecosystem environment, most of the used brine is returned directly to the surrounding habitat and not evaporated.

The American firm uses an innovative method, which emphasizes the sustainable use of water and minimizes the impact on ecosystems and local communities. The company will also contribute important data to the study of sustainable lithium mining initiated by the BMW Group.

The BMW Group is expanding its supplier base and additionally lithium from Argentina, where the raw material is obtained from brine from salty lakes

The salt lakes in the border region between Argentina, Bolivia and Chile are home to about half of the world’s lithium reserves. In conventional lithium mining, brine from the lower layers of salty lakes is extracted from the ground and evaporated in shallow basins.

Livent obtains lithium from a brine resource in Catamarca, using a method that is particularly sustainable. To minimize the impact on the ecosystem environment, most of the used brine is returned directly to the surrounding habitat and not evaporated. This largely preserves the balance between the brine layers and the groundwater.

As reported by BMW, solvents and other chemicals do not come into contact with the environment during this process.

The study will provide companies with a basis to make more informed decisions about sustainable lithium mining in Latin America. The results of the study are expected to be available in the first quarter of 2022.

While, The BMW Group plans to have around a dozen fully electric models by 2023. The company reported that it will increase its sales of all-electric vehicles by an average of more than 50 percent per year, more than ten times the number of units sold in 2020.

The BMW Group expects at least 50% of its global sales to be fully electric vehicles by 2030.

The BMW Group expects at least 50% of its global sales to be fully electric vehicles by 2030.

By the end of 2025, the firm is expected to deliver a total of around two million fully electric vehicles to customers.

Based on its current market forecast, the BMW Group expects at least 50% of its global sales to be fully electric vehicles by 2030. At this point, there will no longer be a segment position in the company’s entire product portfolio where the company does not offer at least one all-electric model.

In total, in the next ten years, the German company will launch around ten million fully electric vehicles.

The investment occurs in a context in which the president Alberto Fernandez seeks to promote the arrival of dollars through exports to increase the reserves of the Central Bank and in times of strong controls on imports before the shortage, precisely, of foreign exchange.

This year before Davos forumThe president answered questions to businessmen and made a call to invest in Argentina, mainly in the agribusiness and energy sectors.

In this framework, he highlighted the country’s orientation so that transportation converges towards the use of electrical energy through the use of lithium and the manufacture of lithium batteries and assured that the Government works on “promotion plans for companies to install and develop it in Argentina”.

In mid-March, Fernández led a videoconference with 18 investment funds from the Olivos residence to present them the development opportunities that Argentina offers and analyze possible joint work agendas.

“I would like to encourage you to turn your gaze on Argentina,” he said and said that the country “offers many opportunities,” such as those represented by Vaca Muerta, as the second largest shale gas reserve worldwide; the exploitation of lithium, and in agro-industrial production, among others.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.