Mentioned:
Lucid is getting serious about sourcing natural graphite in America. And they’re turning to a publicly traded company to do it.
What’s happening:
- Graphite One (TSXV: GPH) has formed a new deal with Lucid (NASDAQ: LCID) to supply them with American based natural graphite for the production of new electric vehicle batteries
Why it matters:
- Graphite One owns the Graphite Creek deposit located in Nome, Alaska which is widely considered to be the single largest graphite project in all of the United States of America
Going deeper:
- Graphite One and Lucid previously made waves when they cut the first ever supply deal for synthetic graphite that had ever been between an electric vehicle company and a North American graphite producer
- The new deal between Lucid and Graphite One is focused on natural graphite, which is the main material used for the anode in lithium-ion batteries for electric vehicles
The fine print:
- Graphite One will not actually begin selling Lucid natural graphite until they begin full scale production at the Graphite Creek deposit, which is not anticipated to occur for another 36 months
