Ford announced the company would work with Nemaska Lithium to provide vehicle-grade lithium for EV batteries. The deal is for 11 years, and is the first American automaker to partner with the Quebec-based lithium company.
The deal will see Ford purchasing up to 13,000 tons of lithium hydroxide annually from Nemaska’s Becancour factory in Quebec. In addition, Ford will also buy spodumene concentrate and lithium ore from the company.
Nemaska’s Chief Financial Officer, Steve Gartner, had this to say:
Lithium is a key component in high-quality and high-performing electric batteries. We have a world class deposit in the James Bay region and we look to establish the first integrated mine to lithium hydroxide plant in Quebec to support the North American supply chain for electric vehicles.
The exact dollar value of the deal was not made public by Ford or Nemaska.
Nemaska is a jointly owned company between Investissement Quebec, Quebec’s economic development agency and Livent, a US-based lithium company. The province took over the project in 2020 after the previous company owner entered creditor protection in 2019.
