Quebec-based lithium company Nemaska Lithium has secured an 11-year deal with Ford to supply lithium hydroxide for electric car batteries. Under the agreement, Ford will purchase up to 13,000 tons annually from Nemaska's Bécancour factory in Quebec, positioning the American automaker as the company's first customer. The deal aims to provide a sustainable source of lithium to support Ford's electric vehicle production and make EVs more accessible to consumers. The lithium production process at Nemaska's plant is touted to be more environmentally friendly, leveraging hydroelectricity, using significantly less water than competitors, and emitting over 70% less greenhouse gases.
While the specific financial terms of the deal were not disclosed, Nemaska is co-owned by Quebec's Investissement Québec and Philadelphia-based lithium company Livent. Last summer, the Quebec government and Livent pledged $80 million each for studies and preparatory work to resume mine construction and build the Bécancour plant. The previous iteration of Nemaska faced financial difficulties, prompting Quebec's earlier investments, but the reimagined project is aligned with Quebec's commitment to spend up to $300 million to revive Nemaska and support the growing electric vehicle industry.
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