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CHARLOTTE, N.C., Feb. 19, 2024 - Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity, and health, today announced a definitive agreement with the BMW Group to deliver battery-grade lithium to help the automaker pursue high-performance, premium electric vehicles (EVs).
This multi-year agreement, which takes effect in 2025, is one of the company’s largest ever globally and is of significant volume and value. In addition to supplying the BMW Group with lithium hydroxide, the two companies will partner on technology for safer and more energy dense lithium ion batteries.
“Albemarle is committed to building a more resilient world,” said Albemarle Energy Storage President Eric Norris. “We welcome the opportunity to work alongside the BMW Group to further enable the clean energy transition.”
This is the second supply agreement between the companies, but the first to include a shared interest in research opportunities to accelerate lithium battery innovations.
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