Livent and BMW Sign Lithium Supply Agreement

Livent Corp of Philadelphia, PA has announced a multi-year supply agreement with the BMW Group of Germany to deliver both lithium hydroxide and carbonate. The company has already started delivering product for qualification and commercial shipments are expected to begin in 2022.

Paul Graves, Livent’s CEO, said, “This key partnership with the BMW Group will help secure long-term lithium supply for its electric vehicle fleet. Multi-year, multi-application agreements with premier OEMs, like BMW Group, reflect Livent’s position as a global leader in the lithium industry with a differentiated product offering, proven track record and sustainability profile.”

We are encouraged by the strong growth in electric vehicle sales in 2020, setting record highs despite significant COVID-19 related disruption to global supply chains and the end-consumer,” continued Graves.  “We expect the positive lithium market conditions that started to appear in the fourth quarter will continue in 2021.  The extent of demand growth for lithium over the coming years is becoming more certain, behind the increasing support for electrification from OEMs, governments and consumers alike.  Given Livent’s differentiated position and global capabilities, we believe we will continue to be a partner of choice and are well positioned to take advantage of this opportunity for years to come.”

Livent reported full year 2020 revenue of US$288.2 million and a net loss of US$18.9 million. For all of 2019, the company made a net income of US$50.2 million on revenue of US$388.4 million.

For the fourth quarter of 2020, Livent generated a net loss of US$5 million on revenue of US$82.2 million versus a net loss of US$200,000 on revenue of US$78.4 million in the corresponding period of 2019.

Volume 35, Issue 04

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