Chile’s president aims to nationalize world’s largest lithium supply
Chile’s president, Gabriel Boric, wants to create a plan to require state involvement in and control of any lithium contracts going forward, in the country with the world’s largest lithium supply.
Boric says that the plan will protect biodiversity and indigenous rights, and will help to distribute the gains from Chile’s mineral wealth more broadly among Chileans.
Chile is home to the world’s largest lithium reserves in its vast northern Atacama desert. The desert is known for its salt flats, large flat areas where water has evaporated and left concentrated solids on the land. Lithium can then be extracted from brine pools on these salt flats.
The desert also reaches into neighboring Bolivia and Argentina, and the area has been referred to as the “lithium triangle.” It is thought to hold roughly half of the world’s lithium reserves, though the resource is still reasonably common elsewhere.
Currently, the world’s largest lithium exporting country is Australia, with Chile in second place. But other countries including China, Argentina, Brazil, and even the US have significant lithium reserves and production capacity, and everyone is aiming to increase production in the coming years.
And some other countries have exerted control over their EV battery resources, with Mexico recently nationalizing its lithium deposits and Indonesia banning exports of nickel in hope of keeping that industry domestic.
Lithium prices have been volatile in recent years, with the resource shooting up about 400% in price in late 2021 due to supply chain challenges and extremely high electric car demand which supply was not able to keep up with.
But most expected prices to drop precipitously this year, and since the beginning of the year, they have. Prices are still high compared to historical averages but are dropping quickly and getting close to those averages.
And, despite being in the name of lithium-ion batteries, each electric car only needs about 20 lbs of lithium. At recent prices, this means there is a few hundred dollars worth of lithium in each EV battery.
Boric’s plan would affect the world’s largest two lithium suppliers, Albemarle and Sociedad Quimica y Minera de Chile (SQM), both of which operate in Chile. Albemarle is a multinational which was formed in 1992 as a spin-off of Ethyl Corporation, the company responsible for putting lead in gasoline. SQM was originally founded as a Chilean state-owned company in 1968 but is now owned by Chilean billionaire Julio Ponce Lerou, son-in-law of Chilean dictator Augusto Pinochet.
The companies dipped 21% and 10% in the stock market today after Boric’s plan was announced.
Chile would not instantly take control of these companies’ operations, but rather the plan would go into effect upon renewal of the companies’ contracts. Currently, SQM’s contract will expire in 2030, and Albemarle’s in 2043. Boric hoped that companies would be open to earlier participation by the state.
But so far, this plan has only been announced by Boric and will have to go through Chile’s National Congress first. He plans to present it to Congress later this year, though the body has blocked many of his proposals in the past.
Chilean politics is going through a lot of change right now. The country saw sustained protests starting in 2019 demanding a new constitution to replace the current one which was implemented under dictator Augusto Pinochet in 1980.
Then in 2021, Boric, a socialist who at 37 is one of the world’s youngest state leaders, won a wide victory over far-right opponent Jose Antonio Kast, who had previously served under Pinochet and whose grandfather had been in the Nazi army. So, the choice was stark.
With this mandate, Boric proposed a new constitution with many progressive reforms. One of those proposed reforms (article 27) would have been to nationalize mining operations, but it was rejected before the constitution went to a vote. Instead, it included a provision that miners must put aside resources to repair damage from mining activities.
The proposed constitution was supported by most Chileans at first, particularly young Chileans and those on the political left. But as the referendum for its approval came closer, polls turned against it and the proposed Constitution failed by a wide margin. The country is now drafting a second proposal, as most Chileans still want to replace the constitution of Pinochet.
But this would not be Chile’s first brush with the nationalization of the extractive industry. In the late 60s and early 70s, Chile pushed to nationalize several industries, particularly the extraction of copper (and even created an early “internet” to manage it).
Chilean president Salvador Allende, a socialist, won in 1970 with the promise of nationalizing copper outright without compensation to the various companies, largely US-based, currently operating in the sphere. The copper industry was nationalized soon after his election with modest compensation to these companies, which drew the ire of the U.S.
Then, in 1973, a U.S.-backed coup led to the deposal and death of democratically-elected Allende and his replacement with the new dictator Pinochet.
Boric’s announcement stops short of Allende’s, in that it does not aim to immediately nationalize the industry without compensation. It also stops short of the proposal in article 27, as that would have given the state exclusive mining rights across many resources, whereas Boric’s current proposal seeks to enforce public-private partnerships in lithium specifically.
But the Chilean state still owns the nation’s copper extraction industry via Codelco, which supplies 11% of the world’s copper. Boric would have this company take a role in finding the best way to manage any public-private partnerships for lithium extraction.
The US currently has a free trade agreement with Chile, in force since 2004. This is relevant for new battery critical mineral guidelines from the US, requiring that battery minerals be sourced from the US or free trade countries in order to qualify for tax credits from the Inflation Reduction Act.
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Environment
EcoFlow members can save up to 65% on power stations while supporting disaster relief during the 2025 Member’s Festival
Portable power station specialist EcoFlow is kicking off its third annual Member’s Festival this month and is offering a unique new rewards program to those who become EcoFlow members. The 2025 EcoFlow Member’s Festival will offer savings of up to 65% for its participating customers, and a portion of those funds will be allocated toward rescue power solutions for communities around the globe through the company’s “Power for All” fund.
EcoFlow remains one of the industry leaders in portable power solutions and continues to trek forward in its vision to power a new tech-driven, eco-conscious future. Per its website:
Our mission from day one is to provide smart and eco-friendly energy solutions for individuals, families, and society at large. We are, were, and will continue to be a reliable and trusted energy companion for users around the world.
To achieve such goals, EcoFlow has continued to expand its portfolio of sustainable energy solutions to its community members, including portable power stations, solar generators, and mountable solar panels. While EcoFlow is doing plenty to support its growing customer base, it has expanded its reach by giving back to disaster-affected communities by helping bolster global disaster response efforts the best way it knows how– with portable power solutions.
EcoFlow and its members look to provide “Power for All”
Since 2023, EcoFlow has collaborated with organizations worldwide as part of its “Power for All” mission. This initiative aims to ensure access to reliable and timely power to disaster-affected communities across the globe, including rescue agencies, affected hospitals, and shelters, to support rescue and recovery efforts.
This fund most recently provided aid for communities affected by the recent Los Angeles wildfires, assistance to the Special Forces Charitable Trust (SFCT) in North Carolina following severe hurricanes, and support for non-profits engaged in hurricane preparedness in Florida and the Gulf Coast. Per Jodi Burns, CEO of the Special Forces Charitable Trust:
In the wake of devastating storms in Western North Carolina, reliable power was a critical need for the families we serve. Thanks to EcoFlow’s generous donation of generators, we were able to provide immediate relief, ensuring these families and their communities had access to power when they needed it most. We are so impressed with EcoFlow’s commitment to disaster response through their ‘Power for All’ program. It has made a tangible impact, and we are deeply grateful for their support and partnership in helping these families recover and rebuild.
In 2024, the US experienced 27 weather and climate events, each causing losses exceeding $1 billion, marking the second-highest annual total on record, according to National Centers for Environmental Information. The increasing frequency and severity of natural disasters underscore the critical need for reliable and timely power solutions during emergencies, much like EcoFlow and its members are helping provide through the “Power For All” initiative.
To support new and existing EcoFlow members, the company is celebrating its third annual Member’s Festival throughout April to offer a do-not-miss discount on its products and donate a portion of all sales to the “Power for All” fund to provide rescue power to those in need in the future. Learn how it all works below.
Save big and give back during the 2025 Member’s Festival
As of April 1st, you can now sign up to become an EcoFlow member to participate in the company’s exclusive 2025 Member Festival.
As a member, you can earn “EcoFlow Power Points” by completing tasks like registration, referrals, and product purchases and tracking your individual efforts toward disaster preparedness and recovery.
Beginning April 4, EcoFlow members will also be able to take advantage of exclusive discounts of up to 65% off select portable power stations, including the DELTA Pro Ultra, DELTA Pro 3, DELTA 2 Max, DELTA 3 Plus, RIVER 3 Plus, and more. However, these sale prices only last through April 25, so you’ll want to move quickly!
Click here to learn more about EcoFlow’s “Power for All” campaign. To register for EcoFlow’s 2025 Member Festival in the US, visit the EcoFlow website. To register as a member in Canada, visit here.
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Tesla is losing another top talent: its long-time head of software, David Lau, has reportedly told co-workers that he is exiting the automaker.
Tesla changed how the entire auto industry looks at software.
Before Tesla, it was an afterthought; user interfaces were rudimentary, and you had to go to a dealership to get a software update on your systems.
When Tesla launched the Model S in 2012, it all changed. Your car would get better through software updates like your phone, the large center display was responsive with a UI that actually made sense and was closer to an iPad experience than a car.
Tesla also integrated its software into its retail experience, service, and manufacturing.
David Lau deserves a lot of the credit for that.
He joined Tesla in 2012 as a senior manager of firmware engineering and quickly rose through the ranks. By 2014, he was promoted to director of firmware engineering and system integration, and in 2017, he became Vice President of software.
Lau listed the responsibilities of his team on his LinkedIn:
- Vehicle Software:
- Firmware for the powertrain, traction/stability control, HV electronics, battery management, and body control systems
- UI software and underlying Embedded Linux platforms
- Navigation and routing
- iOS and Android Mobile apps
- Distributed Systems:
- Server-side software and infrastructure that provides telemetry, diagnostics, over-the-air updates, and configuration/lifecycle management
- Data engineering and analytics platforms that power technical and business insights for an increasingly diverse set of customers across the company
- Diagnostic tools and fleet management, Manufacturing and Automation:
- Automation controls (PLC, robot)
- Server-side manufacturing execution systems that power all of Tesla’s production operations
- Product Security and Red Team for software, services, and systems across Tesla
Bloomberg reported today that Lau told his team he is leaving Tesla. The report didn’t include reasons for his stepping down.
Electrek’s Take
Twelve years at any company is a great run. At Tesla, it’s heroic. Congrats, David, on a great run. You undoubtedly had a significant impact on Tesla and software advancements in the broader auto industry.
He is another significant loss for Tesla, which has been losing a lot of top talent following a big wave of layoffs around this time last year.
I wonder who will take over. Michael Rizkalla, senior director of software engineering and vehicle firmware, is one of the most senior software engineers after Lau. He has been at Tesla for 7 years, and Tesla likes to promote within rather than hire outsiders.
There are also a lot of senior software execs working on AI at Tesla. Musk has been favoring them lately and he could fold Lau’s responsibilities under them.
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Kia’s electric SUVs are taking over. The EV3 is the best-selling retail EV in the UK this year, giving Kia its strongest sales start since it arrived 34 years ago. And it’s not just in the UK. Kia just had its best first quarter globally since it started selling cars in 1962.
Kia EV3 is the best-selling EV in the UK through March
In March, Kia sold a record nearly 20,000 vehicles in the UK, making it the fourth best-selling brand. It was also the second top-seller of electrified vehicles (EVs, PHEVs, and HEVs), accounting for over 55% of sales.
The EV3 remained the best-selling retail EV in the UK last month. Including the EV6, three-row EV9, and Niro EV, electric vehicles represented 21% of Kia’s UK sales in March.
Kia said the EV3 “started with a bang” in January, darting out as the UK’s most popular EV in retail sales. Through March, Kia’s electric SUV has held on to the crown. With the EV3 rolling out, Kia sold over 7,000 electric cars through March, nearly 50% more than in Q1 2024.
The EV3 was the best-selling retail EV in the UK in the first quarter and the fourth best-selling EV overall, including commercial vehicles.
Starting at £33,005 ($42,500), Kia said it’s the “brand’s most affordable EV yet.” It’s available with two battery packs, 58.3 kWh or 81.48 kWh, good for 430 km (270 miles) and 599 km (375 miles) of WLTP range, respectively.
With new EVs on the way, this could be just the start. Kia is launching several new EVs in the UK this year, including the EV4 sedan (and hatchback) and EV5 SUV. It also confirmed that the first PV5 electric vans will be delivered to customers by the end of the year.
Electrek’s Take
Globally, Kia sold a record 772,351 vehicles in the first quarter, its best since it started selling cars in 1962. With the new EV4, the brand’s first electric sedan and hatchback, launching this year, Kia looks to build on its momentum in 2025.
Kia has also made it very clear that it wants to be a global leader in the electric van market with its new Platform Beyond Vehicle (PBV) business, starting with the PV5 later this year.
Earlier today, we learned Kia’s midsize electric SUV, the EV5, is the fourth best-selling EV in Australia through March, outselling every BYD vehicle (at least for now). The EV5 is rolling out to new markets this year, including Canada, the UK, South Korea, and Mexico. However, it will not arrive in the US.
For those in the US, there are still a few Kia EVs to look forward to. Kia is launching the EV4 globally, including in the US, later this year. Although no date has been set, Kia confirmed the EV3 is also coming. It’s expected to arrive in mid-2026.
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