Deals
Great Wall Invests in Australian Miner Amid Electric Push
- Carmakers are stepping up investments to secure supplies
- Great Wall will buy as much as 3.5% stake for $22 Million
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Great Wall Motor Co. will invest in a lithium-mining company in Australia, the latest example of Chinese automakers seeking control of raw materials as they accelerate development of electric vehicles.
China’s biggest maker of sport utility vehicles will invest A$28 million ($22 million) for as much as a 3.5 percent stake in Pilbara Minerals, which owns the Pilgangoora lithium-tantalum project in Western Australia, Great Wall said in statements to the Hong Kong stock exchange Friday. The company halted trading of its shares in Shanghai and Hong Kong.