Lucid Group (NASDAQ: LCID), maker of the world’s most-advanced electric vehicles, has entered into a nonbinding supply agreement with Graphite One Inc.(TSX.V: GPH) (OTCQX: GPHOF). The agreement is for anode active materials (“AAM”). According to the announcement, the agreement, which is initially for five years, is for 5,000 tpa once Graphite One commences production of synthetic graphite. Sales will be based on an agreed price formula tied to future market pricing that also acknowledges base-case pricing. Graphite One officials noted that the agreement helps the company develop its 100% U.S. domestic supply chain. “We are committed to accelerating the transition to sustainable vehicles and the development of a robust domestic supply chain ensures the United States, and Lucid, will maintain technology leadership in this global race,” said Lucid Group CEO and CTO Peter Rawlinson in the press release. “Through work with partners like Graphite One, we will have access to American-sourced critical raw materials, helping power our award-winning vehicles made with pride in Arizona.”
To view the full press release, visit https://ibn.fm/svfc8
About Lucid Group Inc.
Lucid is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. Its flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency starting at $69,900*. Lucid is preparing its state-of-the-art, vertically integrated factory in Arizona to begin production of the Lucid Gravity SUV. The company’s goal is to accelerate humanity’s transition to sustainable transportation and energy through the creation of the most advanced EVs. For more information about the company, visit www.LucidMotors.com.
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