TLDR Houston-based TL;DR Energy Solution has signed a deal with China's Yahua to

Key Highlights :

1. LG Energy Solutions has clinched a preliminary agreement with a Chinese lithium producer for collaboration in the supply of lithium hydroxide in Morocco.

2. This partnership will help bolster the supply chains for core battery materials and meet the sourcing requirements in the US.

3. Morocco has FTAs with the US and the EU, which makes this deal even more important.

     LG Energy Solution (LGES) today announced that it has clinched a preliminary agreement with a Chinese lithium producer for collaboration in the supply of lithium hydroxide in Morocco. The agreement follows LGES’ stepped-up efforts to source the key battery material for its electric vehicles.

     LGES said that the Chinese producer will provide the lithium hydroxide for LGES’ upcoming electric vehicles in Morocco. The two companies will also explore opportunities for further collaboration in the supply of lithium hydroxide to other markets.

     LGES said that the Moroccan market is a key target for its electric vehicles, as it has the potential to become one of the top five markets for electric vehicles in the world. Morocco is also a key hub for the automotive industry, and LGES is keen to expand its business in the country.

     LGES’ electric vehicles are powered by lithium-ion batteries, and the key battery material is lithium hydroxide. The demand for lithium hydroxide is growing rapidly, as it is used in a wide range of products, including batteries for electric vehicles.

     LGES said that it is committed to supplying the best possible electric vehicles to consumers around the world. The company is working hard to secure the necessary resources to make this happen, and collaboration with Chinese producers is a key part of that effort.

Continue Reading at Source : koreatimes