Recently, Ganfeng Lithium and its wholly-owned subsidiary GFL International Co., Limited signed a product supply contract with Tesla, Inc. and Tesla (Shanghai) Co., Ltd. for a three-year supply of battery-grade lithium hydroxide products to Tesla.

The teem of the contract runs from 1 January 2022 to 31 December 2024

The actual purchase volume and amount will be determined by purchase orders issued by Tesla.

The deal comes following a 91% increase in lithium hydroxide CIF Asia prices this year to $19,250 a tonne, according to Benchmark’s Lithium Price Assessment.