Toyota-Panasonic battery JV to buy lithium from ioneer’s Nevada mine. ev lithium mining
A joint battery venture of Toyota Motor Corp and Panasonic Corp will buy lithium from ioneer Ltd’s Rhyolite Ridge mining project and use the metal to build electric vehicle batteries in the United States.
Supplies are slated to begin in 2025, a timeline that depends in part on ioneer obtaining financing and permitting. “The whole purpose of this agreement is for this lithium to be used in the United States,” James Calaway, ioneer’s executive chairman, toldA proposed expansion of the US EV tax credit would require that lithium and other EV minerals be sourced domestically or from allies starting as soon as next year. That potential change, which is under debate in Congress, has shown a spotlight on the nascent US development plans of battery and automakers.
The amount of lithium that ioneer will supply PPES is enough to make batteries for about 150,000 EVs annually, though that figure would vary depending on design and other factors.
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