(Reuters) — China’s Tsingshan Holding Group will invest $233.2 million to set up a plant in Chile to produce lithium iron phosphate (LFP), used to power electric vehicles, Chilean President Gabriel Boric said on Monday.
The plant in northern Chile is expected to be operational in May 2025 and will create 668 jobs when it reaches full capacity, the government of Chile, home to the world’s biggest lithium reserves, said in a statement.