Livent Signs Lithium Supply Agreement with BMW Group

Livent Corp of Philadelphia, PA has announced a multi-year lithium supply agreement with BMW Group to deliver both lithium hydroxide and carbonate. Livent says it has already begun delivering product for qualification and commercial volumes 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.”

Livent has reported full year 2020 revenue of US$288.2 million and a net loss of US$19 million. In 2019, the lithium producer made a net income of US$50.0 million on revenue of US$388.0 million. The company reported a fourth quarter 2020 net loss of US$5 million on revenue of US$88.2 million. In the same period of 2019, Livent had a net loss of US$200,000 on revenue of US$78.4 million.

For full year 2021, Livent expects revenue to be in the range of US$335-365 million and Adjusted EBITDA to be in the range of US$40-60 million, based on higher volumes and slightly lower average pricing across its lithium products.  Livent also expects lower costs in 2021, driven in part by reduced third-party carbonate usage.  Livent says its continues to evaluate the timing of the restart of its capital expansion plans.

Volume 35, Issue 05

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