Ford strikes lithium deals in bid to secure EV battery supplies
Financial Times
23-05-22 18:19
Ford has signed supply agreements with top lithium producers Albemarle and SQM, along with three smaller developers, as it seeks to shrink what it sees as a $7bn cost gap with rivals. The companies will provide Ford with the silvery-white metal needed for electric vehicle (EV) batteries. Other auto manufacturers have sought to secure their own supplies of lithium and other EV metals, including General Motors, which has made a $650m investment in miner Lithium Americas and a $200m payment to Livent to lock in metal supplies.