In a groundbreaking move towards sustainable mobility, Albemarle Corporation (NYSE: ALB), a global leader in essential elements, has announced a definitive agreement with the prestigious BMW Group. This strategic partnership aims to supply battery-grade lithium to fuel BMW’s pursuit of high-performance, premium electric vehicles (EVs).
Scheduled to commence in 2025, this multi-year agreement marks one of Albemarle’s largest global ventures to date, boasting significant volume and value. Alongside providing lithium hydroxide to the BMW Group, the collaboration extends to joint ventures in technology aimed at enhancing the safety and energy density of 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.”
While this isn’t the first partnership between the two entities, it’s the first to incorporate shared research endeavors aimed at accelerating innovations in lithium battery technology. This alignment underscores the commitment of both Albemarle and BMW Group towards pioneering sustainable solutions in the automotive industry.
