Chengxin Lithium signs lithium hydroxide supply contract with Hyundai Motor from 2024 to 2027
Source: company announcement
January 10, 2024
Chengxin Lithium Energy Group Co., Ltd. (Chengxin Lithium) and its wholly-owned subsidiary Chengwei Zhiyuan International Co., Ltd. (Chengwei International) signed a 4-year lithium hydroxide supply agreement with Hyundai Motor Company (Hyundai) .
Under the agreement, Chengxin Lithium and Chengwei International will supply lithium hydroxide to Hyundai from 2024 to 2027. The contract quantity and price will be determined based on a mutually agreed formula. Payment will be made by wire transfer.
Hyundai is a global leading automaker with strong financial strength and good credit rating. The contract is a recognition of the quality of Chengxin Lithium's products and will help to strengthen the company's future business stability and sustainability, enhance its market competitiveness, and meet its business development strategy.