Chile government’s economic development agency, Corfo, announced that Chinese electric vehicle (EV) maker BYD COMPANY (01211.HK) +1.200 (+0.311%) Short selling $512.61M; Ratio 17.866% and metals group Tsingshan Holding have withdrawn plans to build lithium cathode factories in the country, hijacked by declining lithium prices.Tsingshan Holding has scrapped a USD233 million project to produce 120,000 metric tons of lithium iron phosphate (LFP), Reuters reported. Chile’s National Resources Department also disclosed that BYD submitted a notice of intent to withdraw in January. Related NewsG Sachs Drops BYD COMPANY's TP to $428, Predicts Intensified Competition to Drag 2Q25 GPM Down by 3 pptsLast year, BYD had postponed a USD290 million factory project in Chile, which was expected to produce 50,000 metric tons of LFP for cathodes annually.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-09 16:25.)