As the company highlighted in a statement, lithium hydroxide is crucial to GM’s plans to make electric vehicles with higher performance and higher mileage.
The lithium hydroxide Livent will be used in battery cathodes The last from GM, which will power electric vehicles like the recently revealed Chevrolet Blazer EV, Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq.
Livent will provide battery-grade lithium hydroxide to GM for a period of six years beginning in 2025.
Over the course of the agreement, Livent will increasingly supply battery-grade lithium hydroxide to GM from its U.S. manufacturing facilities, with the goal of transitioning 100% of Livent’s downstream lithium hydroxide processing to GM. to North America. The deal is expected to help secure supply for GM while helping Livent expand its capabilities in North America.
So much GM as Livent they share a commitment to responsible operations and sustainable supply chains across industry and multi-stakeholder platforms.
General Motors is a member of the Responsible Minerals Initiative (RMI)joined the Initiative for Responsible Mining Assurance (IRMA) in 2021 and plans to become carbon neutral in global products and operations by 2040. Livent is actively involved in a third party IRMA has a gold rating from EcoVadis for sustainability and has announced a goal of total carbon neutrality by 2040.
“We are building a strong, sustainable, scalable and secure supply chain to help meet our fast-growing electric vehicle production needs”said Jeff Morrison, Vice President of Global Purchasing and Supply Chain at GM.
“We will further localize the lithium supply chain in North America over the course of the agreement. It is also aligned with our approach to responsible sourcing and supply chain management and demonstrates our commitment to strong supplier relationships.”
“Importantly, GM now has secured contractual commitments with strategic partners for all battery feedstock to support our goal of 1 million EV capacity units by the end of 2025,” Morrison added.
Paul Graves, Chairman and CEO of Livent, commented: “We are excited to begin this long-term relationship with GM, one of the most iconic brands in the automotive industry and a leading force in the transition to electrification. With a shared commitment With sustainability and responsible operations, we look forward to building a broad partnership that supports GM’s electric vehicle strategy, its supply chain goals, and the future requirements of its growing electric vehicle fleet for reliable, high-performance lithium products. “.
GM will discuss the deal as part of its earnings call later this morning, and Livent will do the same as part of its next second-quarter 2022 earnings call on August 2.