LG Energy Solution (LGES) has struck supply deals with a pair of Canadian lithium mining companies as the battery cell manufacturer deepens its local supply chain in response to strong North American electric vehicle demand.
The South Korean company, which is building EV battery cells in partnership with General Motors and Stellantis in the United States and Canada, signed memoranda of understanding with Winnipeg-based Snow Lake Lithium Ltd. and Avalon Advanced Materials Inc. in Toronto Sept. 22.
“By constantly investing in upstream suppliers and establishing strategic partnerships with major suppliers of critical minerals, LGES will continue to ensure the steady delivery of our top-quality products, thereby further advancing the global transition to EVs and ultimately to a sustainable future,” he said in a release.
In addition to North American EV demand ramping up, LGES said the recently enacted U.S. Inflation Reduction Act has also “stressed the significance” of battery manufacturers building local supply chains. Both lithium miners are also focused on local processing. Snow Lake is working to develop a lithium hydroxide processing plant in the Winnipeg area, while Avalon is advancing a similar project in Thunder Bay, Ont.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Snow Lake, LG Energy Solution collaborate to establish lithium supply chain in North AmericaA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Canadian miners eye more lithium deals after LG Energy signs three deals in 24 hoursThe deals paint a hopeful picture at a time when demand for EVs has increased and the world looks to shift away from coal. Read on.
Read more »
Canadian miners eye more lithium deals after LG Energy signs three deals in 24 hoursThe deals paint a hopeful picture at a time when demand for EVs has increased and the world looks to shift away from coal. Read on.
Read more »
Canadian miners eye more lithium deals after LG Energy signs three deals in 24 hoursThe deals paint a hopeful picture at a time when demand for EVs has increased and the world looks to shift away from coal. Read on.
Read more »
Environment commitments not met by Canada's energy companies: Report - BNN BloombergA new report said most of Canada's oil producers have made little progress on their goal to decarbonize the sector despite historically high profits and low capital expenditures.
Read more »
University of Regina introduces new Energy Systems Engineering Program for fall 2023 | Globalnews.caPetroleum engineering, sustainable energy engineering and energy transportation and storage are new programs being offered at the University of Regina in the 2023 fall semester.
Read more »