FMC Corp. says it has entered into a new multiyear supply agreement with a major electric vehicle (EV) manufacturer to accelerate the expansion of its global lithium hydroxide production capacity.
FMC says it had previously announced plans to triple its global lithium hydroxide production capacity to serve the growing EV market, with the first 4,000 metric tons per year scheduled to come online in mid-2017.
As a result of this announcement, an additional 4,000 metric ton expansion will come online in 2017, raising the company’s total global lithium hydroxide capacity to 18,000 metric tons.
“We partner closely with leading manufacturers of lithium-ion batteries and electric vehicles to ensure our production meets their current and future demand,” says Tom Schneberger, vice president and global business director of FMC Lithium. “Our manufacturing network is highly flexible, which allows us to increase capacity or accelerate expansion plans as customer needs warrant.”
Over the next several years, FMC plans to further increase capacity of lithium hydroxide, raising the company’s annual output to at least 30,000 metric tons.
