Albemarle Corporation recently announced a definitive agreement with the BMW Group to deliver battery-grade lithium to help the automaker pursue high-performance, premium electric vehicles (EVs).

This multi-year agreement, which takes effect in 2025, is one of Albemarle’s largest ever globally and is of significant volume and value. In addition to supplying the BMW Group with lithium hydroxide, the two companies will partner on technology for safer and more energy dense lithium-ion batteries.

This is the second supply agreement between the companies, but the first to include a shared interest in research opportunities to accelerate lithium battery innovations.