The investment, from a British consortium that includes mining giant Glencore, will go into a wind energy-powered industrial park on Sulawesi island

The electric vehicle maker is aiming to build a facility to produce its Blade Battery, which it claims is safer than other alternatives in the market

Both carmakers gained from a plunge in the yen in October last year, even as a shortage of chips and soaring costs of raw materials squeezed global carmakers

The China Aviation Lithium Battery Co plans to use the proceeds to build new battery production lines

China's zero-Covid policy, which has snarled supply chains and hurt production, prompted LGES to seek EV-battery factory sites elsewhere in Asia

The company said it would establish an advanced energy materials research institute and a new energy technology industrialisation research centre in Beijing

Elon Musk, its chief executive, has demanded the company ramp up battery production, especially of its so-called 4680, denoting the diameter (46mm) and height (80mm)

Two BYD customers said they and others questioned why BYD had instructed dealers to replace batteries in their cars which were not subject to the recall

The company said it would accelerate production of ethyl methyl carbonate (EMC) and diethyl carbonate (DEC) - two types of electrolyte solvents

The agreement with the US carmaking giant comes on the heels of similar deals with Tesla and South Korean battery maker LG Energy Solution

LGES, South Korea's biggest player in the booming market for EV batteries, counts Tesla, General Motors and Volkswagen among its customers.

The A$76 million ($52 million) investment would make Stellantis the company's second-largest investor with an 8% holding