Mercedes-Benz signs a 1.5 billion euro battery-grade lithium hydroxide supply agreement

 With the increase in demand for electric vehicles, major manufacturers are increasing their investment in electric vehicles. Manufacturers who are committed to independently producing batteries are also increasing investment in raw materials. Ensure adequate supply.

The luxury car manufacturer Mercedes-Benz has signed a battery-grade lithium hydroxide supply agreement with Rock Tech Lithium, a start-up company with a lithium mining project in Canada.

Mercedes-Benz and Rock Tech Lithium have both announced the signing of the agreement on their official websites. The two companies reached a strategic cooperation agreement in August.

Judging from the news announced by the two companies on their official websites, they signed a battery-grade lithium hydroxide supply agreement worth about 1.5 billion euros (about 10.605 billion yuan). S-Benz supplies, on average, about 10,000 tons of refined lithium hydroxide per year, starting in 2026.

According to information released by Mercedes-Benz, the battery-grade lithium hydroxide supplied to them by Rock Tech Lithium will be refined in Germany to regenerate batteries and be used in Mercedes-Benz to produce electric vehicles.

The news released by the two companies on the official website also shows that the average annual supply of 10,000 tons of refined lithium hydroxide by Rock Tech Lithium can meet the needs of about 150,000 electric vehicles equipped with high-quality high-performance batteries.

Regarding the cooperation between the two companies, Markus Schäfer, CTO of R&D and Purchasing, a member of the Mercedes-Benz Management Board, said that a large amount of lithium obtained directly from Rock Tech Lithium will help them advance advanced production in Europe. of batteries, with an average of 10,000 tons of lithium hydroxide per year, will play a key role in their securing the lithium supply for the production batteries, helping them achieve their ambitious electrification goals.

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