Ford announced several lithium deals to boost production of electric vehicles.
US automaker Ford Motor Co on Monday signed a series of new agreements to gain access to supplies of lithium crucial in the manufacture of batteries, in a move aimed at bolstering its plans to ramp up production of electric vehicles and take advantage of government tax credits. Signed. ,
Strong demand for green vehicles has prompted major North American automakers to battle over supplies of raw materials to boost production in a market dominated by Tesla Inc.
The following are the battery material supply agreements announced by Ford on Monday:
Albemarle
Albemarle, based in Charlotte, North Carolina, will supply Ford with more than 100,000 metric tons of lithium hydroxide for batteries, either produced domestically or from a country with which the United States has signed a free trade agreement.
The volume will power approximately 3 million future Ford EV batteries. The five-year supply agreement will begin in 2026 and continue through 2030.
Compass Minerals
Ford has signed a five-year supply agreement to source battery manufacturing-grade lithium carbonate from Compass’ lithium brine development project in Ogden, Utah.
Under the agreement, Compass Minerals will deliver up to 40% of its lithium carbonate from its Phase 1 development to Ford once production begins.
And lithium mask
Nemasca Lithium, owned by Investments Quebec and Livent, will supply Ford with lithium products, including lithium hydroxide, over a period of 11 years.
The agreement envisages the delivery of 13,000 tonnes of lithium hydroxide per year. Ford will be the company’s first customer.
Energy sources minerals
Energy Source Minerals will supply lithium hydroxide produced at its Imperial Valley, California complex, which is expected to be operational by 2025.
Chemical and Mining Society of Chile SA
Chilean firm SQM and Ford have reached a long-term lithium supply agreement, the company said in a statement released Monday.
