FMC Corporation Plans to Triple Lithium Hydroxide Capacity to Serve the Growing Electric Vehicles Market
FMC Corporation announced recently it plans to increase its production capacity of lithium hydroxide by a total of 20,000 metric tons per year, effectively tripling its production.
In response to the rapid growth of electric vehicle sales, and strong demand for FMC’s battery grade lithium hydroxide, FMC will execute a three-phased capacity expansion over the next several years. Phase one is expected to be commissioned and on line in mid 2017, while phase two planning is underway. Upon completion of the phase three expansion, FMC’s lithium hydroxide capacity will be at least 30,000 metric tons. FMC expects all three phases to be complete by 2019, but has the ability to adjust timing to meet market demand.
“Our phased expansion approach allows FMC to execute annual and multi-year sales contracts for each increment prior to commissioning,” said Tom Schneberger, vice president and global business director, FMC Lithium. “Our customers rely on FMC’s unmatched quality and reliability. It is important that we maintain this high level of service and expand our production capacity as electric vehicle adoption rapidly increases demand for FMC’s battery grade lithium hydroxide.”