the canadian Nemaska Lithium will supply lithium hydroxide, the main ingredient in the cathode of lithium-ion batteries, for a period of 11 years, as well as Energy Source Mineralswho hopes to supply said component from its Imperial Valley plant in California, which it expects to be in operation in 2025.
This Monday Ford will hold an investment event in which it will explain how to increase the production of its next generation of electric vehicles, while guiding efforts to make it against the cost disadvantage.
North American automakers are trying to secure battery supplies, with a view to ramping up production of electric vehicles as the demand also continues growing.
Earlier this year, Ford joined PT Vale Indonesia and China’s Zhejiang Huayou Cobalt as a new partner in a $4.5 billion nickel processing plant in Indonesia.
The announcement of this Monday about the agreements reached comes in the middle of a dubious outlook on Wall Street, about whether automakers will be able to meet the “lofty targets” set for electric vehicle production.
By the end of this year, Ford says it will have the capacity to produce 600,000 electric vehicles. On the other hand, according to a forecast and an analysis prepared by Reuters, they state that his rival, General Motors, in the middle of the decade could be limited for the manufacture of electric vehicles.