Tesla Inc. has secured a five-year agreement with Australia’s Liontown Resources to supply lithium spodumene concentrate to the Elon Musk-led electric vehicle maker. What Happened Tesla will buy 100,000 dry metric tonnes (DMT) of the lithium concentrate in the first year and up to 150,000 DMTs annually thereafter, Liontown Resources said. Spodumene is considered a key material that goes into making batteries for electric vehicles. Large quantities of lithium spodumene concentrate have been found in Africa, Australia, and North America. The supply deal is subject to Liontown commencing commercial production at the Kathleen Valley Lithium Project by 2025. The Kathleen Valley project is a high-grade lithium-tantalum project being developed near Perth, Western Australia. Liontown Resources said the supply deal follows the recent foundational offtake arrangement with LG Energy Solutions, a supplier for Tesla. Why It Matters Tesla and its legacy rivals such as General Motors Co. and Ford Motor Co. …