Ford Motor Co. has announced three deals to secure supplies of lithium products, including lithium hydroxide, as the automaker ramps up electric vehicle (EV) production to 2 million units by the end of 2026. The deals include a long-term agreement with Canada’s Nemaska Lithium for the supply of up to 13,000 tons of lithium hydroxide every year, a contract with EnergySource Minerals to receive lithium hydroxide from the Imperial Valley, California site, and a five-year agreement with Albemarle Corp to supply more than 100,000 metric tons of battery-grade lithium hydroxide. Ford also reaffirmed its full-year guidance of $9 billion to $11 billion of adjusted earnings before interest and taxes and about $6 billion in adjusted free cash flow. The deals will help Ford meet its ambitious EV production target and strengthen its sourcing capabilities.
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