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Business

Toyota buys stake in lithium chemicals firm

by Jean-François Tremblay
January 29, 2018 | A version of this story appeared in Volume 96, Issue 5
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Toyota Tsusho, the trading arm of Toyota Motor, will pay about $235 million for a 15% stake in Orocobre, a lithium chemicals maker. Orocobre will use the funds to more than double lithium carbonate production to 42,000 metric tons per year at its facility in Argentina. The two firms collaborated to bring the plant on-line in 2014. Toyota Tsusho will sell the additional output primarily in Japan, where it also plans to start making lithium hydroxide, a lithium-ion battery raw material.

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