Lucid Signs Supply Deal With Graphite One to Source Natural Graphite for EV Battery Supply Chain

MT Newswires Live

Jun 04

Lucid Group (LCID) said Wednesday it signed a multi-year agreement with Graphite One to secure domestically-sourced natural graphite for its electric vehicle battery supply chain starting in 2028.

Financial terms were not provided.

The electric vehicle manufacturer said the material will be mined in Alaska and used by Lucid and its battery suppliers under the new agreement. Lucid said this follows a 2024 deal between the two companies for synthetic graphite, which will also begin in 2028, sourced from a proposed facility in Ohio.

Syrah Resources is also set to start supplying natural graphite anode material from Louisiana beginning in 2026 under a separate three-year agreement, the company said.

Lucid said the deals are part of the company's broader effort to localize its battery material supply chain in the US.

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