BERLIN, October twenty (Reuters) – Mercedes-Benz ( MBGn.DE ) has signed a supply agreement with Canadian-German Rock school metal Iraqi National Congress ( RCK.V ) to receive on the common 10,000 lots of battery-grade metal hydroxide p.a., the German automotive vehicle maker same on Th.
The deal permits the luxurious automotive vehicle maker to supply its battery partners with material, starting in 2026, along side a qualification quantity, therefore on quickly proportion production of wholly electrical vehicles, it same in an exceedingly} very statement. The deal, that comes shortly once the two groups same they’d explore a strategic partnership, includes a volume of 1.5 billion euros ($1.47 billion) and may cowl enough metal hydroxide for 100 and fifty,000 cars a year, the companies same.
“This important amount of metal sourced directly from Rock school will facilitate Mercedes Benz to advance localization of European production of state of the art battery cells,” Mercedes-Benz management member Markus Schaefer same.
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As a region of the deal, Rock school metal plans to supply Mercedes-Benz battery partners from a tool based totally in Guben, Germany, serving to the German luxury automotive vehicle maker to travel wholly electrical by the highest of the last decade where market conditions allow.