Lucid Group (NASDAQ: LCID), maker of the world’s most-advanced electric vehicles, has entered into a nonbinding supply agreement with Graphite One Inc. (TSX.V: GPH) (OTCQX: GPHOF). The agreement was announced by Graphite One, which is planning a complete domestic U.S. supply chain for advanced graphite materials, at a briefing held at the U.S. Capital on July 25, 2024. According to the announcement, the agreement, which is for anode active materials (“AAM”), represents “the first step in a 100% U.S.-based supply chain linking Alaska, Ohio and Arizona.” Following the announcement, several senators and government officials commented on the agreement, noting its significance. Those commenting included Senator Lisa Murkowski (R-AK), Senator Dan Sullivan (R-AK), Congresswoman Mary Peltola (D-AK), Congresswoman for Alaska, Congressman Dave Joyce (R-OH ), Congressman Juan Ciscomani (R-AZ) and Alaska governor Mike Dunleavy. “I am delighted to see Alaska’s role in the announcement on Capitol Hill today that Graphite One, developer of the Graphite Creek Project, and Lucid Motors of Arizona have reached agreement on an offtake contract providing U.S.-made graphite anode material for U.S.-built electric vehicles — one major use of the rechargeable batteries that are transforming American technology and the U.S. economy,” said Alaska governor Mike Dunleavy in the press release.

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About Lucid Group Inc.

Lucid is a Silicon Valley-based technology company focused on creating the most advanced EVs in the world. Its flagship vehicle, Lucid Air, delivers best-in-class performance and efficiency starting at $69,900. Lucid is preparing its state-of-the-art, vertically integrated factory in Arizona to begin production of the Lucid Gravity SUV. The company’s goal is to accelerate humanity’s transition to sustainable transportation and energy through the creation of the most advanced EVs. For more information about the company, visit www.LucidMotors.com.

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