China's BYD in talks with Brazil's Sigma Lithium on supply deal -FT (updated)

Sigma Lithium

14/01/2024 06:46

(Adds details, background in paragraphs 2-4)
       Jan 14 (Reuters) - Chinese electric car-maker BYD
 002594.SZ  has held talks with Brazil's Sigma Lithium  SGML.V 
over a possible supply agreement, joint venture or acquisition,
the Financial Times reported on Sunday.
    BYD met Sigma Chief Executive Ana Cabral Gardner in Sao
Paulo last month, BYD's Brazilian chair, Alexandre Baldy, told
the newspaper, but did not give details, citing a
confidentiality agreement.
    BYD and Sigma did not immediately respond to Reuters
requests for comment. 
    Sigma said in January it had initiated a primary listing of
Sigma Brazil on Nasdaq and the Singapore stock exchange. 
    BYD, backed by Warren Buffet's Berkshire Hathaway  BRKa.N ,
said in July it would invest 3 billion reais ($600 million) in a
new industrial complex in northeastern Brazil, with operations
expected to start in mid-2024. 

($1 = 4.8539 reais)

 (Reporting by Chandni Shah in Bengaluru; Editing by Christian
Schmollinger and William Mallard)
 ((Chandni.shah@thomsonreuters.com;))