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Lucid Partners With Graphite One To Obtain 5,000 Tonnes Of Synthetic Graphite Annually That Starts In 2027
2 min read
By Michael Phoon • July 26, 2024
Lucid Motors has entered into a non-binding supply agreement with Graphite One, a Canadian-based mining company, to secure a domestic supply chain for electric vehicle (EV) battery materials.
Under the terms of the agreement, Graphite One will supply Lucid with 5,000 tonnes of synthetically produced graphite per year over an initial five-year period. This landmark deal marks the first synthetic graphite supply agreement between a United States (U.S.) graphite developer and a U.S. EV company. The supply is set to start as early as 2027, contingent on the development of Graphite One’s planned Ohio production plant.
Peter Rawlinson, CEO and CTO of Lucid Motors, expressed the importance of this partnership stating, “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.”
Currently, the U.S. imports 100% of its natural and synthetic graphite, a critical component in EV battery technology. Graphite accounts for around 30% of the average EV battery by mass, making it the largest single component in most EV batteries.
In response, Graphite One plans to develop a complete domestic U.S. supply chain for advanced graphite materials. The company is developing a graphite mine in Alaska and has selected a brownfield site in Warren, Ohio, for its proposed anode active materials (AAM) plant. The Ohio plant has a Phase 1 production target of 25,000 tonnes per year of battery-ready anode material, with potential to scale up to 100,000 tonnes per year.
With Lucid’s strategy to localize its supply chain and potentially qualify for federal EV tax credit by sourcing battery materials domestically, the company aims to cut down costs and enhance its competitiveness in the U.S. EV market.
As EV automakers seek to secure reliable and domestic sources of critical battery materials in response to global supply chain challenges and increasing trade tensions, collaborations like this between Lucid Motors and Graphite One are showcased as an example that can potentially shape the future of electric mobility and domestic manufacturing on U.S. soil.
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