LG Energy Solution (LGES) announced on Thursday that it signed an MOU with the U.S.-based Compass Minerals to be supplied with lithium for seven years starting from 2025.
Going forward, the company will receive 40 percent of Compass Minerals’ lithium carbonate and hydroxide, which is a key raw material for high-capacity electric vehicle batteries.
Compass has become the first lithium producer in the U.S. to partner with LGES. LG Energy Solution is highly regarded for its recent deal, which will lead to an enhanced supply chain for environment-friendly materials for its battery plant in North America.
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