LG Energy Solution Signs Lithium Carbonate Supply Contract with U.S.-based Smackover Lithium
MT Newswires Live
7 hours ago
LG Energy Solution (KRX:373220) entered into a long-term supply contract for lithium carbonate with U.S.-based lithium specialist developer Smackover Lithium, the South Korean firm said in a Tuesday release.
Under the deal, LG Energy Solution will receive 80,000 tons of lithium carbonate over a decade beginning in 2029 from Smackover Lithium. The supply will support production of about 1.8 million high-performance electric vehicles, the release said.
Smackover Lithium plans to produce the lithium in Arkansas using direct lithium extraction technology, it said.
Shares of LG Energy Solution fell nearly 3% at market close.
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