BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Ford Scales Back Lithium Orders Amid EV Production Cuts, Impacting Suppliers
Ford Scales Back Lithium Orders Amid EV Production Cuts, Impacting Suppliers
18
2
BTCCSquare news:
Ford Motor Company (NYSE:F) has significantly reduced its lithium procurement plans, slashing future orders by 50% as part of its broader retreat from electric vehicle ambitions. The automaker now plans to take just 256,250 tons from supplier Liontown Resources Ltd., down from originally contracted volumes, sending Ford shares down nearly 2% in Thursday trading.
The lithium market faces a perfect storm of oversupply and dwindling demand. With EV tax credits expired and organic demand weakening, Ford recently suggested the EV market could contract by half from current levels. Lithium producers now grapple with growing stockpiles as automakers recalibrate their electrification timelines.
By:
