Ford Motor Co. said on Monday it has signed a preliminary deal to buy lithium from a Lake Resources facility in Argentina, marking the first time the automaker has publicly announced where it will procure the electric vehicle battery metal.
The deal is a major bet by Ford on direct lithium extraction, or DLE, a relatively new breed of technologies that filter the metal from brines and use far less acreage than open-pit mines and evaporation ponds.
General Motors, BMW, Stellantis and other Ford rivals have inked supply deals of their own with companies planning to use DLE technology.
Ford aims to buy 27,000 tons annually of the white metal from Lake's Kachi project in northern Argentina, which is being developed with privately held extraction startup Lilac Solutions Inc.
Lilac's technology, like all DLE technologies, has yet to work commercially, though it has the support of Bill Gates' Breakthrough Energy Ventures and other high-profile inve…