Lucid Group (NASDAQ: LCID), an electric vehicle manufacturer, announced Wednesday a collaboration with several critical mineral producers aimed at accelerating the development and procurement of domestic critical minerals for U.S. automotive manufacturing. The new initiative, named the Minerals for National Automotive Competitiveness Collaboration (MINAC), includes Alaska Energy Metals, Graphite One, Electric Metals, and RecycLiCo.
MINAC’s stated goals include advancing domestic mineral production through offtake agreements, identifying and resolving barriers to commercialization, expanding coordination between the mining and automotive sectors, and supporting the qualification and procurement of domestically produced materials by U.S.-based automakers and Tier 1 suppliers.
The formation of MINAC comes as the automotive industry, particularly the electric vehicle sector, faces increasing pressure to secure reliable and ethically sourced supplies of rare earths and critical minerals such as nickel, graphite, and manganese. These minerals are essential components in lithium-ion batteries, which power the majority of electric vehicles. The collaboration seeks to reduce reliance on foreign supply chains, especially from countries like China, and bolster domestic manufacturing capabilities.
The involved mineral companies each bring specific expertise to the collaboration. Alaska Energy Metals, based in Anchorage, Alaska, is developing a large-scale nickel project. Nickel is a key material for high-energy density battery cells, which can extend vehicle range. Electric Metals USA is focused on the Emily manganese project in Minnesota. Manganese is used in lithium-ion battery cathodes to enhance energy density, reduce cost, and improve thermal stability. Graphite One is developing facilities for graphite production in Ohio and northern Alaska, with expected production by 2028. RecycLiCo specializes in hydrometallurgical technologies for processing mined ore and recycling lithium-ion battery materials, aiming to recover battery-ready lithium, cobalt, nickel, and manganese.
In conjunction with the launch, Lucid and its partners are holding a roundtable discussion in Washington, D.C., with Arizona Governor Katie Hobbs, Senator Dan Sullivan of Alaska, and Representatives Nick Begich of Alaska and Andy Biggs of Arizona.
Senator Mark Kelly of Arizona commented on the initiative, stating, “Arizona is proud to be home to Lucid’s state-of-the-art manufacturing facility, and I’m glad to see them leading the way in building electric vehicles with American-made materials.” He added that such collaborations strengthen supply chains and support jobs within the United States.
By Michael Kern for Oilprice.com
More Company News From Oilprice.com
