Hyperdrive
Ford Strikes Lithium Supply Deals With World’s Top Producers
- Albemarle, SQM are among five companies in pacts with carmaker
- CEO Farley says raw material processing limits battery output
This article is for subscribers only.
Ford Motor Co. peppered investors with new battery-material sourcing agreements in a show of how it’s solidifying the supply chain it will need for a massive expansion in electric-vehicle production.
The two biggest names among the various companies that announced deals with Ford on Monday — US-based Albemarle Corp. and Chile’s SQM — are the world’s largest producers of lithium. Those pacts are among five disclosed on Ford’s investor day that flesh out how the carmaker expects to make 2 million EVs a year by 2026, and keep expanding from there.