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Chinese automaker BYD is in talks with Brazil’s Sigma Lithium for a supply deal and a joint venture or acquisition, Reuters reported on Sunday according to the Financial Times.
The automaker met Sigma’s CEO Ana Cabral Gardner in Sao Paulo in December, said BYD’s Brazilian chair, Alexandre Baldy.
Both BYD and Sigma did not respond to Reuters for a comment.
However, Sigma announced earlier that it initiated a primary listing of Sigma Brazil on NASDAQ and Singapore stock exchange.
BYD said last July it would invest three billion reais ($600 million) in a new industrial complex in northeastern Brazil, and that operations are expected to start by mid-2024.
