Sociedad Química y Minera de Chile to Supply Ford with Lithium
May 22 2023 - 11:06AM
Dow Jones News
By Will Feuer
Sociedad Química y Minera de Chile, or SQM, said it has reached
a long-term strategic agreement to supply Ford Motor with lithium
products for the American automaker's electric vehicles.
The Chilean chemical supplier and lithium producer said its
lithium would help Ford EVs qualify for the Inflation Reduction Act
consumer tax credit in the U.S.
"SQM has established well-run operations, a commitment to
sustainability, and a proven track record for scaling capacity,"
said Lisa Drake, Ford's vice president of EV industrialization.
American depositary receipts tied to shares of SQM rose 1.3% in
morning trading Monday.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
May 22, 2023 10:51 ET (14:51 GMT)
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