[ad_1]
Titan Lithium Industries has signed a long-term provide framework settlement with Mercedes-Benz AG to supply battery-grade lithium for the carmaker’s world electrical automobile portfolio, in a deal valued at greater than $300 million (AED1.1 billion).
The multi-year settlement establishes Titan Lithium as a provider inside Mercedes-Benz’s world battery supplies provide chain, supporting the automaker’s technique to safe long-term, responsibly produced and geographically diversified sources of crucial uncooked supplies.
The partnership is aligned with Mercedes-Benz’s wider electrification roadmap, with business provide anticipated to start in 2028, topic to customary situations.
Titan Lithium secures Mercedes partnership
The settlement additionally displays the UAE’s broader industrial and clear power ambitions, significantly efforts to localise strategic worth chains and develop downstream manufacturing of crucial supplies required for the worldwide power transition.
Titan Lithium’s refinery is positioned inside Khalifa Financial Zones Abu Dhabi (KEZAD Group) and makes use of clear power sources alongside superior refining applied sciences. The ability produces battery-grade lithium carbonate and lithium hydroxide designed to satisfy the necessities of a low-carbon automotive provide chain.
Dr. Sultan Al Jaber, Minister of Trade and Superior Expertise, stated the settlement demonstrated the UAE’s method to constructing aggressive industrial ecosystems. “This settlement displays the UAE’s deliberate technique to construct globally aggressive industrial worth chains in crucial sectors,” he stated.
“By enabling superior manufacturing partnerships between world producers and UAE-based producers, the UAE continues to place itself as a dependable, long-term accomplice and the hall to the economic system of the longer term.”
Vaibhav Jain, Founder and Chairman of Titan Lithium Industries Ltd, stated the partnership highlighted the UAE’s rising function within the clear power economic system. “Lithium is the spine of the brand new power economic system, and this partnership displays the UAE’s emergence as a trusted, long-term contributor,” he stated.
“The UAE right this moment represents a once-in-a-lifetime alternative to supply resilience to the clear power ecosystem globally. This settlement with Mercedes-Benz reinforces world confidence within the UAE’s potential to ship crucial supplies responsibly, reliably, and at world-class requirements.”
The deal positions Titan Lithium inside a significant world automotive provide chain and underscores the UAE’s ambition to develop into a hub for superior manufacturing and low-carbon industrial exercise, as demand for electrical automobiles and related battery supplies continues to speed up worldwide.
[ad_2]
