The deal is a major bet by Ford on direct lithium extraction (DLE), a relatively new breed of technologies that filter the metal from brines.

The news comes a week after IGO said its previous offer might fall through.

The real significance of invoking the DPA is that it elevates battery metals to the top of the US critical materials supply list, writes Andy Home.

The updated economics demonstrate that Phase 1 is financially robust, even as a standalone project.

Automakers including Tesla and Volkswagen have been forced to suspend production at their factories in Shanghai.

China's measures to contain the recent surge of covid-19 cases disrupted operations at Nio's suppliers.

There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow, Musk said in a Tweet.