Albemarle Inks Five-year Deal With Ford To Deliver Battery-grade Lithium Hydroxide
(RTTNews) - Albemarle Corp. (ALB) announced Monday a definitive agreement with Ford Motor Co. (F) to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric vehicle (EV) production.
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.
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.
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.
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