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Reading: Lucid’s push for domestic supply chain gains momentum with Graphite One pact
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EV-a2z > News > Lucid’s push for domestic supply chain gains momentum with Graphite One pact
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Lucid’s push for domestic supply chain gains momentum with Graphite One pact

Lucid Motors partners with Graphite One to localize its EV battery supply chain, securing American-sourced materials and enhancing sustainability.

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Last updated: 2024/07/26 at 8:52 PM
EV-a2zm Published July 26, 2024 3 Min Read
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Aspiring Tesla rival Lucid Motors has just partnered with Vancouver-based Graphite One as it seeks to further localize its electric vehicle battery supply chain in the United States.

Contents
Lucid’s partners with Graphite OneGraphite One’s venture in the USAgreement details

Lucid has entered a supply agreement with Graphite One to accelerate the transition to sustainable vehicles and develop a robust domestic supply chain. ​

This partnership provides access to American sourced critical raw materials, to power our award-winning vehicles while… https://t.co/Rd6ALaJpOp

— Lucid Motors (@LucidMotors) July 25, 2024

Lucid’s partners with Graphite One

According to the press release, Lucid Motors and Graphite One formally inked a non-binding supply deal for anode active materials on July 25, 2024.

Graphite One Chief Executive Anthony Huston referred to the partnership as “historic,” marking the first-ever synthetic graphite supply deal between a US graphite developer and an American electric automaker.

“We are committed to accelerating the transition to sustainable vehicles and the development of a robust domestic supply chain ensures the United States, and Lucid, will maintain technology leadership in this global race. Through work with partners like Graphite One, we will have access to American-sourced critical raw materials, helping power our award-winning vehicles made with pride in Arizona.”

 Lucid CEO and CTO Peter Rawlinson

Graphite One’s venture in the US

As of today, the United States secures 100% of its natural and synthetic graphite requirements through imports from other countries.

However, the demand for these critical battery materials continues to surge amid the expanding electric vehicle industry.

Therefore, Graphite One seeks to localize the supply chain by leveraging the Graphite Creek deposit, which the US Geological Survey previously acknowledged as the biggest  graphite deposit in the country and “among the largest in the world.”

Our team has published a company spotlight report on Graphite One. GPH is focused on owning the entire graphite supply chain with its Graphite Creek mining project in Alaska and its proposed Advanced Anode Manufacturing Facility in Ohio. $GPH.V

Read the full report below. pic.twitter.com/kI0pyReXk0

— Atrium Research (@Atrium_Research) July 25, 2024

Graphite One selected Warren, Ohio, for its planned anode active materials factory in March 2024. The first phase of the project is expected to hit an annual production output of 25,000 tons of battery-ready anode material. The company plans to gradually increase this output to 100,000 tons per year (TPY).

Agreement details

Graphite One disclosed that the non-binding agreement with Lucid Motors involves supplying 5,000 tons of synthetic graphite per year once it starts production at its upcoming Ohio plant.

The initial agreement is for a five-year period, with an option for early termination.

Graphite One and Lucid Motors have agreed on a pricing structure that will change based on market conditions but will always meet a minimum price point acceptable to both companies.

Lucid Motors’ strategy of localizing supply chains through its partnership with Graphite One will enable it to cut production costs. As a result, it can finally enable the American electric automaker to offer a new model that could qualify for the full $7,500 federal tax credit. However, other factors may still need to be fulfilled, including lowering manufacturer’s suggested retail prices.

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TAGGED: Electric Vehicle, EV, Graphite, Graphite One, Lucid Motors, USA
EV-a2zm July 26, 2024 July 26, 2024
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