SoftBank to buy up to 9.9 pct stake in Nemaska Lithium: Reuters
Japan’s SoftBank Group Corp will buy up to 9.9 percent stake in Canada-based Nemaska Lithium Inc and invest up to $99.1 million through a private placement as part of the agreement, Reuters reported. The investment, which SoftBank said was its first in the lithium industry, will be used to fund the construction and commissioning of Nemaska’s Whabouchi Mine in Québec and its Shawinigan plant. The investment comes at a time when lithium batteries are increasingly being installed in electric cars, including Tesla Inc's top-of-the-line Model X and General Motors Co's modestly-priced Chevy Bolt.
6 April 2018•2 mins read
