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deals","gm-locks-up-lithium-and-cathode-supply-with-livent-and-gm-deals","article/gm-locks-up-lithium-and-cathode-supply-with-livent-and-gm-deals",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":688,"featured":50,"reporter":689,"_editable":693,"component":694,"seo_title":543,"categories":695,"visibility":706,"author_company":49,"featured_image":707,"seo_description":688,"author_full_name":49,"author_job_title":49,"formattedDate":712,"formattedArticleDate":713},"942a0af4-d8ec-455e-aa13-baf1a95a6165","2022-07-27 00:00",[550,553],{"slug":551,"name":552},"gm","GM",{"slug":554,"name":555},"livent","Livent",[557],{"slug":558,"name":559,"content":560},"matthew-bird","Matthew Bird",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Senior Editor - Supply Chains & Data Visualisation",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,603,608,613,618,623,628,633,638,643,648,653,658,663,668,673,678,683],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"General Motors said it had secured enough battery raw materials to produce 1 million electric vehicles in North America by 2025, as it signed supply agreements with LG Chem and lithium producer Livent.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"GM’s target would require 50,000 tonnes to 60,000 tonnes of LCE for 1 million EVs, assuming a battery pack size of between 60-70 gigawatt-hours, according to Benchmark. That would be around 10% of the lithium hydroxide market by 2025, according to Benchmark’s Lithium Forecast.",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"The deals are the second move in a week by a legacy automaker to secure supplies of battery raw materials following Ford’s announcement of multiple agreements with suppliers last week. GM, which aims to build four battery factories in North America, is targeting delivery of 400,000 electric vehicles by the end of 2023, ramping up to 1 million in 2025.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"GM said that it now had “binding agreements” for enough lithium, nickel, cobalt and cathode active material to reach the 1 million target. Mary Barra, chief executive of GM, said the agreement with Livent was for “significant quantities of lithium,” without giving details.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"“GM is focused on ensuring security of supply for our EV demand with a focus on a localized supply chain,” the automaker told Benchmark. ",{"type":597,"attrs":598,"content":600},"heading",{"level":599,"textAlign":49},4,[601],{"text":602,"type":575},"Where will the lithium come from?  ",{"type":570,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":575},"GM said it had signed a six-year supply agreement with Livent to secure battery-grade lithium hydroxide “primarily” from its brine-based operations in Argentina starting in 2025.",{"type":570,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":575},"“Lithium hydroxide is crucial to GM’s plans to make higher performance, higher mileage EVs. The lithium hydroxide from Livent will be used in GM’s Ultium battery cathodes,” GM said.",{"type":570,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":575},"Benchmark forecasts lithium hydroxide will account for around 46% of the lithium market by 2026 compared to lithium carbonate, rising to 51% by 2030.",{"type":570,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":575},"To meet GM’s needs would require a large share of Livent’s projected lithium supply, however.",{"type":570,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":575},"Livent says its lithium hydroxide production capacity is expected to nearly triple to 89,000 tonnes by 2025, including its 50% share of Nemaska Lithium, an integrated lithium mine and hydroxide plant in Canada, as well as its planned 15,000 tonne hydroxide plant in China.",{"type":570,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":575},"Nemaska Lithium is expected to come into production in late 2025 with “meaningful production” in 2026, according to Livent.",{"type":597,"attrs":634,"content":635},{"level":599,"textAlign":49},[636],{"text":637,"type":575},"Local supply chains",{"type":570,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":575},"GM said that all of Livent’s lithium hydroxide processing for GM will happen in North America over the course of the agreement, as part of its strategy to localise its supply chain.",{"type":570,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":575},"But currently only around 40% of Livent’s forecast lithium hydroxide production capacity by mid-decade is expected to come from Nemaska Lithium, with the majority of the rest in China.",{"type":570,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":575},"Livent is also adding 5,000 tonnes of lithium hydroxide processing capacity in Bessemer City, North Carolina, which is expected to come online by the fourth quarter of 2022.",{"type":570,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":575},"GM has also invested in Controlled Thermal Resources’ Hell’s Kitchen geothermal brine project in California, which is expected to begin producing lithium in 2024. It will have 25,000 tonnes per annum capacity in the first phase, according to the company.",{"type":570,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":575},"In June Controlled Thermal Resources also agreed to supply Stellantis with up to 25,000 tonnes a year of lithium hydroxide for ten years, however.",{"type":570,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":575},"“Even if Controlled Thermal Resources comes to production on time, much of its initial production capacity is already committed to Stellantis, in a deal announced in June 2022, whilst an unspecified volume is now also committed to GM. This means Livent may need to supply a very significant amount of its future supply to GM,” according to Daisy Jennings-Gray, an analyst at Benchmark.",{"type":570,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":575},"GM separately announced a long-term agreement with South Korea’s LG Chem to secure more than 950,000 tonnes of cathode active material (CAM) over eight years starting in the second half of this year. That’s enough material for around 5 million electric vehicles, GM said.",{"type":570,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":575},"Barra said that GM and LG Chem “will explore the localization of a CAM production facility in North America by the end of 2025.”",{"type":570,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":575},"It’s unclear if GM’s agreement with LG Chem also includes battery raw materials, however.",{"type":570,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":575},"GM said it has also secured cathode material from Posco’s South Korean operations from 2023 to 2025. The two companies are also building a cathode plant in Quebec.","General Motors said it had secured enough battery raw materials to produce 1 million electric vehicles in North America by 2025, as it signed supply agreements with LG Chem and lithium producer Livent. GM’s target would require 50,000 tonnes to 60,000 tonnes of LCE for 1 million EVs, assuming a battery pack size of between […]",[690],{"slug":558,"name":559,"content":691},{"job_title":561,"image":692,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"942a0af4-d8ec-455e-aa13-baf1a95a6165\", \"id\": \"\"}-->","article",[696,699,701,704],{"slug":697,"name":698},"batteries","Batteries",{"slug":700,"name":298},"cathode",{"slug":702,"name":703},"critical-minerals","Critical Minerals",{"slug":705,"name":8},"lithium","private",{"id":49,"alt":708,"name":708,"focus":708,"title":708,"source":708,"filename":709,"copyright":708,"fieldtype":710,"meta_data":711,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/d08dc6c37c/bm-cadillac-lyriq-0261.jpg","asset",{"alt":708,"title":708,"source":708,"copyright":708},"Jul 27, 2022","27th July 2022",[],[],1781799369247]