The BYD Han. Richard Bord/Getty Images Tesla rival BYD is exploring a new method of lithium mining in Chile, Bloomberg reported Tuesday. The Chinese firm aims to use a more direct way to extract lithium from Chilean salt flats. A BYD exec said the company plans to offer local patents and build up the industry in Chile. Tesla's biggest Chinese rival BYD is looking to secure more lithium, a key battery material, by using a faster extraction method in northern Chile, Bloomberg reports. BYD Executive Vice President Stella Li said in an interview Tuesday the company is holding talks with…