One of the world’s leading automakers, Stellantis, has announced a binding $30 million offtake agreement with the Western Australian manganese manufacturer, Element 25, on Jan. 9, 2023. The agreement secures for the company 45 kilotons (around four Eiffel Towers) of battery grade, high purity, manganese sulphate monohydrate (HPMSM) from Element 25 to Stellantis over five years,…
America’s EV Boom Continues With Hyundai and SK On Battery Deal
A South Korean battery maker will supply electric vehicle (EV) batteries to Hyundai Motor Group’s manufacturing plants in the United States, as government incentives and the auto industry’s move to electrify its car fleets continue to fuel EV-related investment. SK On, part of Seoul-based SK Group, and Hyundai announced the partnership on Nov. 30, saying…
Lithium Prices Surge to Record High, Threatening to Push Up Expensive EV Costs Even Higher
The price of lithium carbonate, the key material used to make electric car batteries, has continued to skyrocket, tripling in the past year. The valuable mineral is mainly processed in communist China, which has a monopoly on the battery market. Lithium carbonate prices in China hit $71,315 a ton on Sept. 16, according to data from…
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