■ On 28 Sep 2021, Canada's Millennial Lithium Corp announced that CATL had agreed
to acquire 100% of its issued shares for a total cash consideration of about CA$377m
(equivalent to US$297m).
■ CATL has made quite a few other investments in upstream mining resources (cobalt,
lithium, nickel, etc.) to provides it with stable supply, especially given its aggressive
expansion plan, and giving it a cost advantage over its peers.
■ CATL’s snapping up lithium reserves again indicates the importance of the upstream
lithium mining resources for the EV battery value chain.