Ford makes three deals for lithium hydroxide supply with Nemaska, SQM, and Albemarle

23 May 2023, 09:06:44

Ford Motor Company has signed deals with three companies for lithium hydroxide supply. These are Albemarle, Nemaska Lithium, and SQM.

Albemarle will supply more than 100,000 metric tons of battery-grade lithium hydroxide for approximately 3 million future Ford EV batteries. The five-year supply agreement starts in 2026 and continues through 2030. In addition to the lithium hydroxide supply, Albemarle and Ford will explore collaborations to develop a closed-loop solution for lithium-ion battery recycling. Furthermore, both companies are deeply committed to responsible sourcing and production and have agreed to work together to ensure sustainability, transparency and traceability in their supply chains. Both Albemarle and Ford are committed to supplying the U.S. EV supply chain via lithium hydroxide domestically produced in the United States or originating in a country with a U.S. Free Trade Agreement.

Nemaska Lithium will supply Ford with lithium products, including lithium hydroxide, over an 11-year period. The agreement calls for the delivery of up to 13,000 tons of lithium hydroxide per year. The agreement also provides that prior to commencing delivery of lithium hydroxide produced in Bécancour, Nemaska Lithium will supply Ford with spodumene concentrate from its Whabouchi mine. Nemaska Lithium's integrated project is planned to be the first one to produce lithium hydroxide in Québec. Nemaska Lithium is committed to the manufacturing and sale of high-quality battery-qualified lithium hydroxide and, like Ford, is committed to establishing sustainable and responsible practices in all its operations. The lithium hydroxide that will be produced by the Québec company will meet high standards of quality and sustainability, with one of the lowest carbon footprints in the lithium industry. The lithium hydroxide produced by Nemaska Lithium should help qualify Ford vehicles for consumer tax benefits under the U.S. Inflation Reduction Act.

The agreement between Ford and SQM will ensure the supply of battery-grade lithium carbonate and lithium hydroxide, essential components to manufacture high-performance electric vehicle batteries. The origin of SQM's lithium should help Ford vehicles to qualify for the Inflation Reduction Act (IRA) consumer tax credit and will help support its plans to produce electric vehicles and expand its presence in the global electric mobility markets.

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