SK On bolsters lithium supply via deal with SQM

Nov 2022

On Monday 7th November 2022, the Korean EV battery manufacturer SK On signed a five-year lithium supply deal with Chilean lithium and chemicals company SQM. The supply is set to begin in 2023 and will see SK On purchase up to 57,000 tonnes of battery-grade lithium hydroxide from SQM – enough to supply roughly 1.2 million EV batteries. The Korean company noted SQM’s ESG credentials as a motivator for cooperation.

The two companies also agreed to discuss further cooperation in the mid and long term on areas such as additional lithium supply, potential investment in production plants and waste battery recycling. Having recently agreed lithium supply deals with…


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