Factbox: Automakers securing battery raw materials – Reuters
China-made Tesla Model 3 electric vehicles are seen at the Gigafactory of electric carmaker Tesla Inc in Shanghai, China December 2, 2019. REUTERS/Aly Song
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March 23 (Reuters) – A spike in demand for electric vehicles (EV) in the global markets is encouraging automakers such Tesla Inc (TSLA.O), Volkswagen (VOWG_p.DE) and Stellantis NV (STLA.MI) to secure raw materials needed for making batteries.
Following are some of the deals major automakers have announced with suppliers and miners:
TESLA (TSLA.O)
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China’s Ganfeng Lithium Co (002460.SZ) will supply battery-grade lithium for three years starting 2022. Volumes were not disclosed. Ganfeng is the third largest lithium supplier in the world. read more
VOLKSWAGEN (VOWG_p.DE)
08-Dec-2021
STELLANTIS NV (STLA.MI)
RENAULT SA (RENA.PA)
Vulcan Energy Resources (VUL.AX) will supply 26,000 to 32,000 metric tonnes of battery-grade lithium chemicals for initial six-year starting 2026. read more
MoU with Terrafame, a Finnish nickel and cobalt miner, to supply nickel sulphate. Quantities and timeline not disclosed. (t.ly/iRZm)
TOYOTA MOTOR CORP (7203.T)
BHP Group Ltd (BHP.AX) will supply nickel sulphate from Western Australia to a battery-making joint venture between Toyota Motor (7203.T) and Panasonic (6752.T). Details were not disclosed. read more
GENERAL MOTORS (GM.N)
02-Jul-2021
GM will make a “multimillion-dollar investment” in and help develop Controlled Thermal Resources (CTR) Ltd’s Hell’s Kitchen geothermal brine project near California’s Salton Sea. The project could be producing 60,000 tonnes of lithium – enough to make roughly 6 million EVs – by mid-2024. read more
FORD (F.N)
22-Sept-2021
Partners with startup Redwood Materials to form a “closed loop” or circular supply chain for electric vehicle batteries, from raw materials to recycling. read more
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Reporting by Nilanjana Basu, Yuvraj Malik and Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli
Our Standards: The Thomson Reuters Trust Principles.
Source: https://www.reuters.com/technology/automakers-securing-battery-raw-materials-2022-03-23/
