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According to a statement by Smart, Tianqi Lithium (SZ:002466), a Chinese lithium producer, has agreed to invest $150M towards the cause.
“Thanks to the support from Mercedes-Benz and Geely, Smart now is accelerating its global development and business operation. Meanwhile, we are more than glad to welcome the strategic investments of worldwide industry leaders, such as Tianqi Lithium,” Smart’s Global CEO Tong Xiangbei said in the statement.
“We are confident this move will allow us to further broaden Smart’s horizons and strengthen our next-step plans to enhance the competences of Smart in global markets,” he said.
