Mercedes Signs 1.5 Billion Eur Deal With Rock Tech Lithium To Push E-Car Drive
Highlights
Mercedes-Benz has signed a supply agreement with Canadian-German Rock Tech Lithium Inc to receive on average 10,000 tons of battery-grade lithium hydroxide per year, the German carmaker said on Thursday.
The deal allows the luxury carmaker to supply its battery partners with raw material, starting in 2026, including a qualification period, in order to rapidly scale up production of fully electric vehicles, it said in a statement.
The deal, which comes shortly after the two groups said they would explore a strategic partnership, has a volume of 1.5 billion euros ($1.47 billion) and will cover enough lithium hydroxide for 150,000 cars a year, the companies said.
"This significant amount of lithium sourced directly from Rock Tech will help Mercedes Benz to advance localization of European production of state-of-the-art battery cells," Mercedes-Benz management board member Markus Schaefer said.
As part of the deal, Rock Tech Lithium plans to supply Mercedes-Benz battery partners from a converter based in Guben, Germany, helping the German luxury carmaker to go fully electric by the end of the decade where market conditions allow.
Last Updated on November 30, 2022
Latest News
Popular Mercedes-Benz Models
- Mercedes-Benz G-ClassEx-Showroom Price₹ 2.55 Crore
- Mercedes-Benz E-ClassEx-Showroom Price₹ 78.5 - 92.5 Lakh
- Mercedes-Benz A-Class LimousineEx-Showroom Price₹ 46.05 - 48.55 Lakh
- Mercedes-Benz GLE-ClassEx-Showroom Price₹ 96.4 Lakh - 1.15 Crore
- Mercedes-Benz C-ClassEx-Showroom Price₹ 60 - 66 Lakh
- Mercedes-Benz GLSEx-Showroom Price₹ 1.32 - 1.37 Crore
- Mercedes-Benz GLCEx-Showroom Price₹ 74.45 - 75.45 Lakh
- Mercedes-Benz GLA-ClassEx-Showroom Price₹ 51.75 - 56.9 Lakh
- Mercedes-Benz S-ClassEx-Showroom Price₹ 1.77 - 1.86 Crore
- Mercedes-Benz EQSEx-Showroom Price₹ 1.55 Crore
- Mercedes-Benz GLBEx-Showroom Price₹ 63.8 - 69.8 Lakh
- Mercedes-Benz EQBEx-Showroom Price₹ 70.9 - 77.5 Lakh
- Mercedes-Benz CLE CabrioletEx-Showroom Price₹ 1.1 Crore
- Mercedes-Benz EQAEx-Showroom Price₹ 66 Lakh
- Mercedes-Benz EQE SUVEx-Showroom Price₹ 1.39 Crore
- Mercedes-Benz EQS SUVEx-Showroom Price₹ 1.41 Crore