NIO takes $12m position in lithium play Greenwing Resources

Greenwing Resources $Greenwing Resources Ltd (GW1.AU)$ has been boosted by China’s NIO Inc taking a 12.16% stake plus a call option over up to 40% of the Brisbane-based company’s San Jorge lithium project in Argentina.
NIO’s move is another sign that end users of lithium carbonate are firming their upstream supply chains as evidence emerges that lithium may be in a supply squeeze later this decade.
Upon exercise of its call option, NIO will have direct rights at San Jorge in proportion to its equity interest Andes Litio, but will also have the right to match any offers made by other companies for the remaining share of the project’s production.
$NIO Inc (NIO.US)$ $NIO Inc. USD OV (NIO.SG)$ $NIO-SW (09866.HK)$