Lucid Group launches alliance with U.S. producers of critical minerals

Lucid Group (NASDAQ:LCID) announced on Wednesday a strategic collaboration with major North American critical mineral producers Alaska Energy Metals, Graphite One, Electric Metals, and RecycLiCo to launch the Minerals for National Automotive Competitiveness Collaboration. The electric vehicle maker said the initiative is designed to accelerate the development and supply of critical domestic minerals required by the U.S., with the ultimate goal of fortifying the nation’s automotive supply chains and reducing dependence on foreign sources.

Objectives of the Minerals for National Automotive Competitiveness Collaboration include advancing the production of American critical minerals through securing offtake agreements for use in domestic automobile manufacturing, resolving commercialization barriers, promoting customer adoption, strengthening coordination between mining and automotive sectors, and supporting the qualification and procurement of U.S.-produced materials by American carmakers and Tier 1 suppliers. The collaboration officially launches with a roundtable and event in Washington, D.C., attended by Lucid and partners alongside Arizona Governor Katie Hobbs, Alaska Senator Dan Sullivan, and Representatives Nick Begich and Andy Biggs.

Lucid’s (NASDAQ:LCID) interim CEO, Marc Winterhoff, emphasized the importance of robust domestic supply chains for sustainable manufacturing, American innovation, and job growth, reaffirming the company’s commitment to building the next generation of automotive manufacturing in the U.S. “We are doubling down on our commitment to powering American innovation and look forward to working with our partners as we build the next generation of automotive manufacturing in the United States,” he highlighted.