[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.

 

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