Ford Announces Mining MOUs to Support EV Batteries

July 26, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Ford Motor Company (NYSE:F) (Dearborn, Michigan) has signed non-binding memorandums of understanding (MOUs) with mining companies to directly source battery cell raw materials, in order to support its electric vehicle (EV) battery production, the automaker announced last week.

Some of those companies include: Vale Canada Limited (Toronto), a wholly owned subsidiary of Brazilian miner Vale (NYSE:VALE) (Rio de Janeiro), Vale subsidiary PT Vale Indonesia, Huayou Cobalt Company, BHP Group Limited (NYSE:BHP) (Melbourne, Australia), Rio Tinto plc (NYSE:RIO) (London, England), Compass Minerals (Ogden, Utah) and ioneer Limited (Sydney, New South Wales).