ioneer signs binding offtake supply agreement with Ford Motor Company.
M2 EQUITYBITES-July 22, 2022--ioneer signs binding offtake supply agreement with Ford Motor Company
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Auto Business News - 22 July 2022
ioneer Ltd (ASX: INR,NASDAQ: IONR), an Australia-based lithium-boron supplier, has announced that it has signed a binding offtake supply agreement with Ford Motor Company (NYSE: F), a United States-based automaker.
According to the contract, ioneer will provide the automaker with lithium carbonate from its Rhyolite Ridge Lithium-Boron Project in Nevada. Ioneer is delivering 7,000 tonnes per annum (tpa) of lithium carbonate to Ford over a period of five years from 2025. The automaker plans to use ioneer's lithium carbonate to produce batteries for use in Ford electric vehicles through BlueOval SK, the Ford-SK On battery manufacturing joint venture.
ioneer's executive chairman, James Calaway, said, 'The...
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