Livent To Supply Battery-grade Lithium Hydroxide To GM

(RTTNews) - Livent Corp. (LTHM) said that it has entered into a multi-year agreement to provide battery-grade lithium hydroxide to General Motors Co (GM) over a six-year period beginning in 2025.

In Tuesday pre-market trade, LTHM was trading at $24.55 up $1.52 or 6.60%.

GM has contractually secured all battery raw material to support its goal of 1 million units of EV capacity in North America by the end of 2025.

Livent's battery-grade lithium hydroxide, made primarily from lithium extracted at its brine-based operations in South America, to be used in production of GM's electric vehicles.

Over the course of the agreement, Livent will increasingly supply battery-grade lithium hydroxide to GM from its manufacturing facilities in the U.S., with the goal of transitioning 100% of Livent's downstream lithium hydroxide processing for GM to North America.