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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Albemarle Corporation | NYSE:ALB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -3.24 | -2.49% | 126.91 | 130.80 | 126.64 | 129.00 | 1,655,082 | 01:00:00 |
From May 2023 to May 2024
By Will Feuer
Albemarle said it has struck a five-year deal to supply Ford Motor with lithium hydroxide, starting in 2026.
Charlotte, N.C.-based Albemarle said it will supply the automaker with more than 100,000 metric tons of battery-grade lithium hydroxide for about 3 million future Ford electric vehicle batteries.
"With the growing demand for EVs in the United States, our customers are seeking to regionalize their supply chain for greater security, sustainability and lower costs," said Eric Norris, president of Albemarle Energy Storage.
The two companies will also explore further collaboration to develop a closed-loop solution for lithium-ion battery recycling.
Ford is set to discuss its latest agreements for battery raw materials on Monday morning at an investor event.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 22, 2023 07:08 ET (11:08 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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