- Livent’s battery-grade lithium hydroxide, made primarily from lithium mined at its brine-based operations in South America, for use in the production of GM’s electric vehicles
- 100% of Livent’s lithium hydroxide downstream processing for GM to move to North America during deal
- Both companies prioritize commitment to responsible operations and sustainable supply chains
- GM has contracted all battery raw materials to support its goal of 1 million units of EV capacity in North America by the end of 2025
PHILADELPHIA AND DETROIT – Livent and General Motors Co. today announced a major multi-year supply agreement in which Livent will supply GM with battery-grade lithium hydroxide made primarily from lithium mined at Livent’s brine-based operations in South America. Lithium hydroxide is key to GM’s plans to make better-performing, higher-mileage electric vehicles. Livent’s lithium hydroxide will be used in GM’s Ultium battery cathodes, which will power electric vehicles such as the recently unveiled Chevrolet Blazer EV, Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ.
Livent will supply battery-grade lithium hydroxide to GM over a six-year period beginning in 2025. Over the course of the agreement, Livent will increasingly supply battery-grade lithium hydroxide to GM starting in its manufacturing facilities in the United States, with the goal of transitioning 100% of the downstream processing of lithium hydroxide from Livent for GM to North America. The deal should help secure GM’s supply while helping Livent expand its North American capabilities.
GM and Livent share a commitment to responsible operations and sustainable supply chains through industry and multi-stakeholder platforms. General Motors is a member of the Responsible Minerals Initiative (RMI), joined the Initiative for Responsible Mining Assurance (IRMA) in 2021, and plans to become carbon neutral in global products and operations by 2040. Livent is actively engaged in a third-party IRMA rating, has a gold rating from EcoVadis for sustainability and has announced a goal of global carbon neutrality by 2040.
“We are building a strong, sustainable, scalable and secure supply chain to help meet our rapidly growing electric vehicle production needs,” said Jeff Morrison, GM Vice President, Global Purchasing and Supply Chain. . “We will continue to localize the lithium supply chain in North America during the course of the agreement. Additionally, it is part of our responsible sourcing and supply chain management approach and demonstrates our commitment to strong relationships with our suppliers.
“Importantly, GM now has secure contractual commitments with strategic partners for all battery raw materials to support our goal of 1 million units of EV capacity by the end of 2025,” added Morrison.
Paul Graves, President and CEO of Livent, said, “We are delighted to begin this long-term relationship with GM, one of the most iconic brands in the automotive industry and a leading force in the transition to electrification. With a shared commitment to sustainability and responsible operations, we look forward to building a broad partnership that will support GM’s electric vehicle strategy, its supply chain goals and the future demands of its growing electric vehicle fleet for reliable and efficient lithium products. »
GM will discuss the deal as part of its earnings call later this morning, and Livent will do the same as part of its next call for second quarter 2022 results on August 2.
About General Motors
General Motors (NYSE: GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to everyone. At the heart of this strategy is the Ultium battery platform, which powers everything from consumer vehicles to high-performance vehicles. General Motors, its subsidiaries and joint ventures sell vehicles under the Chevy, Buick, GCM, Cadillac, https://www.holden.com.au/?evar25=gm_media_releasebaojun and Wuling brands. More information about the company and its subsidiaries, including OnStara global leader in vehicle safety and security services, can be found at https://www.gm.com.
Livent (NYSE:LTHM) is a fully integrated lithium company with a rich heritage of innovation and a long, proven history of producing high-performance lithium compounds. For nearly eight decades, Livent has partnered with customers to safely and sustainably use lithium to power the world. Livent is one of the few companies with the capability, reputation and know-how to produce high-quality finished lithium compounds that help meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, fueling demand for green energy, modern mobility, mobile economy and specialist innovations including light alloys and lubricants. For more information, visit Livent.com.
Juan Carlos Cruz
Livent Investor Relations
Livent Forward-Looking Statements
Statement Under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management’s current beliefs and assumptions regarding future events, future business conditions and the company’s outlook based on currently available information. In some cases, you can identify these statements by forward-looking words such as “may”, “could”, “will”, “will”, “will likely”, “is on track”, “should”, ” expect”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “believe”, “estimate”, “predict”, “potential”, ” continue”, “could”, “forecast”, “future”, “believes”, “plans” or “projects”, the negative of these and other comparable terms. These statements involve known and unknown risks. , uncertainties and other factors that may cause actual results to differ materially from the results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. Statements and Other Cautions Included in Livent’s 2021 Form 10-K Filed with the SEC and Other Filings with the SEC graduates and public communications. Livent cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Livent undertakes no obligation, and specifically disclaims any obligation, to update or revise forward-looking statements to reflect events or circumstances occurring after the date on which they were made, except as otherwise required by law.
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