Vancouver’s Rock Tech Lithium has finalized a supply agreement with Mercedes-Benz AG to provide high-quality lithium used in electric vehicle battery production.
Starting in 2026, the supply agreement provides for the supply of an average of 10,000 tonnes of battery-grade lithium hydroxide per year. Based on moderate market forecasts and assessments the total sales volume is estimated to approximately $2 billion over the five-year term.
“Signing the Supply Agreement marks a significant milestone of our offtake strategy, and I am honored that Mercedes-Benz demonstrates trust in Rock Tech as a new but reliable player in a diversified European battery supply chain,” commented Rock Tech’s Chief Executive Officer, Markus Bruegmann at the signing event in Sindelfingen, Germany.
“We are well aware of the significance of this relationship to both parties. We intend to focus our efforts on providing lithium hydroxide that will help to bring Mercedes-Benz’ electric mobility ambitions into action. This arrangement is a major step forward in our plans to directly contribute to clean mobility.”