By Simon Moores, Managing Director, Benchmark Mineral Intelligence
SQM’s lithium contract with LG Chem is the latest in a string of long-term battery supply chain deals to be made public in 2020, a clear signal of the growing urgency among automakers to lock in critical inputs to fuel their push to electrification ahead of a growth spurt in 2021.
Today, SQM announced a 55,000 tonne LCE (lithium carbonate equivalent) deal with LG Energy Solutions, the newly formed auto battery spin-off from LG Chem, for a contract to begin in 2021 and end in 2029 . . .