LG Energy Solution Secures Canadian Lithium Supply
LG Energy Solution is accelerating the stabilization of its supply chain by securing a large scale of key battery raw materials locally in North America.LG Energy Solution announced on Oct. 8 that it has signed a long-term supply agreement for lithium concentrate with Elevra Lithium, a North America
LG Energy Solution has signed a long-term supply agreement with Elevra Lithium, a Canadian company, to secure lithium concentrate. The deal, announced on October 8, will see Elevra Lithium supply 240,000 metric tons of lithium concentrate over a four-year period starting later this year, according to Yonhap News.
The agreement is expected to help LG Energy Solution strengthen its ability to respond to local customer needs and support the growth of the North American energy storage system (ESS) market. The company plans to have more than 50 gigawatt-hours (GWh) of lithium iron phosphate (LFP) cell production capacity in North America by December.
LG Energy Solution's procurement center leader, Lee Kang-yeol, said the agreement marks an important step in strengthening the company's raw material supply chain in North America. The company has been working to secure key battery raw materials locally in North America, as reported by BusinessKorea.
Brief written by urgent.news from BusinessKorea, Yonhap News — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
