Prime Planet Energy & Solutions (PPES), a joint venture for electric vehicle batteries between Toyota and Panasonic has secured lithium supplies from ioneer Ltd’s Rhyolite Ridge mining project.
The supply of lithium is to make electric vehicle batteries in the United States. Under the agreement, ioneer will supply 4,000 tonnes of lithium carbonate annually for five years to Prime Planet Energy & Solutions (PPES).
PPES will start getting lithium supplies in 2025 and will be used to make electric vehicle battery parts in the United States for that country’s market.
PPES is reportedly considering building a battery production facility in western North Carolina.
“The whole purpose of this agreement is for this lithium to be used in the United States,” James Calaway, ioneer’s executive chairman
PPES President Hiroaki Koda said the deal with ioneer provided the first step for his company to secure a supply of lithium that it will use to make electric vehicle batteries in the US.
Ioneer’s supply of lithium is sufficient to make about 150,000 electric vehicle batteries per year, although that number may change depending on design and other factors.
Ioneer targets to produce 21,000 tons of lithium in Nevada annually starting 2025. Previously. The Australia-based company has signed supply deals with Ford Motor and Ecopro.
