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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hyundai Motors has signed a contract with one of China's largest lithium producers to supply lithium, an electric vehicle battery material.
Ganfeng Lithium announced on the 22nd that it has signed a contract to supply lithium hydroxide to Hyundai Motor. The contract period is 4 years from January 1st to December 31st, 2027. The value and size of the supply were not disclosed.
Previously, Hyundai Motors signed a four-year contract with China's Chengxin Lithium to purchase lithium hydroxide starting this year.
Hyundai Motor is working hard to secure lithium due to the conversion of electric vehicles.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
