Charged EVs | LG Energy Solution partners with Liontown to guarantee lithium supply

LG Energy Solution, a producer of lithium-ion batteries, and Liontown Sources, a battery minerals producer, have introduced a partnership that seeks to construct on the 2 corporations’ ongoing work within the lithium sector.

The partnership will prolong the offtake settlement between the 2 entities from 5 to fifteen years and consists of plans to analyze the feasibility of developing an Inflation Discount Act-compliant lithium refinery. The deal will present LG with 700,000 tonnes of lithium spodumene focus over the primary 5 years and 1.5 million tonnes for the rest of the time period.

“By partnering with sturdy gamers like Liontown, we’ll proceed to safe steady provide of IRA-compliant crucial minerals, fulfilling our efforts to supply aggressive energy options for electrification,” LG Power Answer CEO David Kim mentioned.

LG may also make investments $250 million in Liontown by means of convertible notes to assist the latter’s ramp-up of its Kathleen Valley Mission in Western Australia, which is anticipated to provide its first lithium spodumene focus by the tip of July.

Supply: LG Energy Solution