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LG Energy Solution secures 240,000 tonnes of Canadian lithium concentrate to strengthen North American supply chain

LG Energy Solution said on Thursday it signed a long-term supply contract with North American lithium producer Elevra Lithium to receive a total of 240,000 tonnes of lithium concentrate over four years starting at the end of this year. The material will be produced at the North American Lithium mine in Quebec, Canada. The company said the volume is equivalent to about 30,000 tonnes of lithium hydroxide, enough to make batteries for about 700,000 high-performance electric vehicles.

Industry

U.S. midterm election nears as Korean battery makers face crossroads over AMPC tax credit defence line

With the Nov. 3 U.S. midterm election approaching, Korean battery makers face renewed political bargaining over tax credits. EV purchase subsidies have already been abolished, while the advanced manufacturing production credit, or AMPC, has been defended at a 25 percent credit through 2032. Companies with large North American bases are reshaping operations to withstand policy shifts, including moving from joint ventures to wholly owned plants and shifting production toward energy storage systems.

Industry

LG Energy Solution signs $1.6 billion ESS supply deal with DTE Energy

LG Energy Solution said on May 28 it signed a $1.6 billion energy storage system supply contract with U.S. utility DTE Energy. Total supply volume is 6 GWh and deliveries will run for about two years. DTE Energy, Michigan’s largest power utility, plans to use the ESS for eight grid projects, including an Oracle AI data center in Salem Township. LG Energy Solution said production will center on its Holland, Michigan plant.