The lithium market received a boost after FMC said it planned to double its output of battery raw material lithium next year, in a sign the largest producers are increasing supply to meet demand from electric carmakers.

The Philadelphia-based chemical company, one of the world’s four largest producers of lithium, said it would accelerate expansion of lithium hydroxide as a result of a “new multiyear supply agreement with a major manufacturer of electric vehicles”.

“We partner closely with leading manufacturers of lithium ion batteries and electric vehicles to ensure our production meets their current and future demand,” said Tom Schneberger, vice-president and global business director at FMC Lithium.

Source: FMC contract underlines rising battery demand for Lithium — FT.com