United States: Ford Motor Co. has entered into a definitive agreement with Albemarle Corp. to purchase battery-grade Lithium Hydroxide needed to ramp up its electric vehicle (EV) production. The move is aimed at supporting the automaker's efforts to scale up EV production and meet growing consumer demand for eco-friendly transportation alternatives.

Albemarle Corp. has entered into a five-year supply agreement with Ford Motors starting from 2026 and extending until 2030, to provide over 100,000 metric tons of battery-grade Lithium Hydroxide. This quantity will be sufficient to produce approximately 3 million electric vehicle (EV) batteries for Ford.

The agreement is expected to support the production of Ford's eco-friendly vehicles while ensuring a consistent and reliable supply of high-quality materials from Albemarle.

By procuring Lithium Hydroxide from either the U.S. or a Free Trade Agreement partner, Albemarle and Ford have demonstrated their dedication to supporting the electric vehicle (EV) supply chain in the United States. This move emphasizes their aim to promote local production and reduce dependency on imports to produce eco-friendly vehicles.

Apart the supply of Lithium Hydroxide, Albemarle and Ford have expressed their intention to jointly investigate developing a closed-loop solution for recycling Lithium-ion batteries. Additionally, both companies have affirmed their dedication towards responsible sourcing and production, with a shared goal of ensuring sustainability, transparency, and traceability in their respective supply chains.