SANTIAGO, Chile, May 22, 2023
/PRNewswire/ -- Sociedad Química y Minera de Chile S.A. (SQM)
(NYSE: SQM; Santiago Stock Exchange: SQM-B, SQM-A) and Ford Motor
Company have announced a long-term strategic agreement to secure
the supply of high-quality lithium products for production of
electric vehicles.
SQM Announces Long-Term Lithium Supply
Agreement with Ford Motor Company
The agreement between Ford and SQM will ensure the supply of
battery-grade lithium carbonate and lithium hydroxide, essential
components to manufacture high-performance electric vehicle
batteries. The origin of SQM's lithium should help Ford vehicles to
qualify for the Inflation Reduction Act (IRA) consumer tax credit
and will help support its plans to produce electric vehicles and
expand its presence in the global electric mobility markets.
Carlos Díaz, Executive Vice President Lithium of SQM, said: "We
are pleased to announce this strategic agreement and value Ford's
trust in SQM's ability to deliver battery-grade lithium products
sustainably produced in Chile. As
one of the largest lithium producers in the world, for over 25
years, SQM has been investing in the technology and development of
its own processes to produce high value-added lithium products with
one of the lowest environmental footprints in the industry. This
alliance will allow both companies to contribute further to the
decarbonization of the planet on a global scale."
Added Lisa Drake, Ford's vice
president, EV Industrialization, Model e: "Working with strong
global collaborators such as SQM will help us make real progress on
making EVs more accessible for our customers down the road. SQM has
established well-run operations, a commitment to sustainability,
and a proven track record for scaling capacity. Working together
helps Ford strengthen our plans to help secure the lithium we need
and to de-risk our production plans for millions of EVs over
time."
About SQM
SQM is a global company that is listed on the New York Stock
Exchange and the Santiago Stock Exchange (NYSE: SQM; Santiago Stock
Exchange: SQM-B, SQM-A). SQM develops and produces diverse products
for several industries essential for human progress, such as
health, nutrition, renewable energy and technology through
innovation and technological development. We aim to maintain our
leading world position in the lithium, potassium nitrate, iodine
and thermo-solar salts markets.
For further information, contact:
Gerardo Illanes 56-2-24252022 /
gerardo.illanes@sqm.com
Irina Axenova 56-2-24252280 /
irina.axenova@sqm.com
Isabel Bendeck 56-2-24252074 /
isabel.bendeck@sqm.com
For media inquiries, contact:
Maria Ignacia Lopez /
ignacia.lopez@sqm.com
Pablo Pisani /
pablo.pisani@sqm.com
About Ford Motor Company:
Ford Motor Company (NYSE: F) is a global company based in
Dearborn, Michigan, committed to
helping build a better world, where every person is free to move
and pursue their dreams. The company's Ford+ plan for growth
and value creation combines existing strengths, new capabilities
and always-on relationships with customers to enrich experiences
for customers and deepen their loyalty. Ford develops and
delivers innovative, must-have Ford trucks, sport utility vehicles,
commercial vans and cars and Lincoln luxury vehicles, along with connected
services. The company does that through three
customer-centered business segments: Ford Blue, engineering
iconic gas-powered and hybrid vehicles; Ford Model e, inventing
breakthrough EVs along with embedded software that defines
exceptional digital experiences for all customers; and Ford Pro,
helping commercial customers transform and expand their businesses
with vehicles and services tailored to their needs.
Additionally, Ford is pursuing mobility solutions through Ford
Next, and provides financial services through Ford Motor Credit
Company. Ford employs about 174,000 people worldwide. More
information about the company and its products and services is
available at corporate.ford.com.
Media Contact:
Jennifer Flake /
jflake1@ford.com
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SOURCE Sociedad Quimica y Minera de Chile, S.A. (SQM)