Carmaker will invest $52 million to buy a 8% stake in miner Vulcan Energy Resources.

No bottom in sight for lithium stocks even as Pilbara Minerals concentrate auction sets new record price above $7,000 a tonne.

Shares of E3 Lithium surged over 30% on news of the Imperial Oil investment.

Tesla delivered more than 936,000 EVs worldwide last year, while VW sold some 453,000 fully electric cars.

The highest bid for lithium at an auction run by an Australian miner suggests a blistering rally in the battery metal may not be over. 

The battery charges faster than existing cells, and is safer and more durable, CATL said. 

It sold 109.76 million shares at 410 yuan apiece in an A-share private placement, it said in a statement Wednesday.