mar 30, 2021 - BMW signed 334.4 million dollar supply deal with operating in Argentina Livent

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BMW said March 30 the deal was part of its plans to accelerate its expansion of e-mobility in the coming years, which would increase the need for sustainable lithium supply for use in battery cells.
By 2030, the automaker plans that at least half of its global sales will come from all-electric vehicles.

Livent initially announced the multi-year deal in February, saying at the time that it would be supplying BMW with both lithium hydroxide and lithium carbonate starting in 2022, although it did not disclose the value of the contract.

Neither BMW or Livent provided the supply volume or the price of the lithium to be supplied through the deal.

Lithium prices have been strong in recent months, with seaborne lithium carbonate prices rising $4,650/mt, or 73%, since the start of 2021 to be assessed by S&P Global Platts at $11,000/mt CIF North Asia on March 26, while lithium hydroxide prices also gained $3,000/mt, or 33.33% over the same period to $12,000/mt CIF North Asia.

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