The Lucid Group has entered into another agreement with Canadian battery materials company Graphite One. The goal is to ensure a steady supply of natural graphite mined in the United States. The companies previously signed a memorandum of understanding for the supply of synthetic graphite from US production in 2024. The new agreement builds on the foundations laid by the previous one. According to Lucid, the material will be used for future electric vehicles, with production potentially beginning in 2028.
Five-year term intended
Graphite One plans to extract the material from the Graphite Creek deposit in Alaska. Further processing is set to take place at a planned site in Ohio. Implementation of both projects currently depends on financing and regulatory approval. The agreement is non-binding and has a planned term of five years.
Agreement with Australian player
In addition to collaborating with Graphite One, Lucid has another supply agreement for natural graphite with Syrah Resources from Australia. Starting in 2026, Lucid will purchase natural graphite from Syrah over a period of three years. The supply will come from Syrahʼs processing plant in Louisiana.
