Ford Secures Lithium for EVs

Ford Motor has announced several new deals for the supply of lithium products as part of its plan to increase the production of electric vehicles (EVs) in the coming years. The company aims to produce 2 million EVs annually by 2026. These targets have raised doubts among investors, and Ford intends to outline its plans to achieve them during its capital markets day. Albemarle and EnergySource Minerals will supply Ford with lithium hydroxide for EV batteries, with Albemarle providing over 100,000 metric tons and EnergySource Minerals offering lithium hydroxide from a California site. Compass Minerals International will supply up to 40% of battery-grade lithium carbonate from a new project in Utah.