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Saudi Arabia is planning a second lithium processing plant as it seeks to capture a piece of the energy transition pie. The plant will be a joint venture between Saudi industrial major Obeikan Investment Group and Australian startup European Lithium, the Financial Times has reported, with initial production expected in 2026. The lithium produced at the new facility will be supplied to Germany’s BMW under an existing agreement. Earlier this year, Saudi Arabia signed a deal with Australian EV Metals—a battery tech developer partly owned by Riyadh—to construct a lithium hydroxide plant. Saudi Arabia is also the biggest investor in Lucid Motors—a luxury EV maker—and has planned for local EV production in the near future.

Saudi Arabia To Expand Its Lithium Processing Industry

Saudi Arabia is planning a second lithium processing plant as it seeks to capture a piece of the energy transition pie. The plant will be a joint venture between Saudi industrial major Obeikan Investment Group and Australian startup European Lithium, the Financial Times has reported, with initial production expected in 2026. The lithium produced at the new facility will be supplied to Germany’s BMW under an existing agreement. Earlier this year, Saudi Arabia signed a deal with Australian EV Metals—a battery tech developer partly owned by Riyadh—to construct a lithium hydroxide plant. Saudi Arabia is also the biggest investor in Lucid Motors—a luxury EV maker—and has planned for local EV production in the near future.

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