Ford Strikes Multiple Lithium Deals to Meet Ambitious EV Production Targets

Ford announced supply agreements with multiple companies to obtain lithium products needed for its plan to produce 2 million electric vehicles per year by 2026.
Albemarle Corp and Nemaska Lithium will provide lithium hydroxide over 5-11 years to produce up to 3 million EV batteries between 2026 and 2030.
Ford's EV unit is expected to lose $3 billion this year as the company ramps up production.
Compass Minerals will supply up to 40% of its planned lithium carbonate for Ford's EV batteries.
EnergySource Minerals and Chile's SQM also signed long-term lithium supply agreements with Ford.