LG Energy Solution Signs Long-Term Agreement to Source Lithium Carbonate from US-Based Smackover Lithium
South Korean battery manufacturer LG Energy Solution (LGES) has signed a binding agreement with U.S.-based Smackover Lithium for the supply of lithium carbonate. The deal spans ten years and involves an annual delivery of 8,000 metric tonnes following commercial production start by Smackover Lithium. Smackover Lithium is a joint venture between Standard Lithium Ltd and Equinor. LGES emphasized that sourcing from U.S.-produced lithium carbonate will help establish a fully integrated local supply chain for its battery manufacturing operations in the United States, enhancing sustainability through direct extraction methods used by Smackover. The agreement aligns with rising demand for energy storage systems (ESS), which is compensating for slower automotive sector growth due to reduced U.S. tax incentives for electric vehicles.
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Topics: Battery Supply Chain Energy Storage Systems (ESS) EV Industry Lithium