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 South Korea's LG Energy Solution signed their second offtake agreement with Australia's Wesfarmers Chemicals, Energy and Fertilisers (WesCEF) on Tuesday to expand its supply chain for lithium procurement. As a part of this collaboration, WesCEF will supply 85,000 tons of lithium concentrate to LG Energy, which can produce about 11,000 tons of lithium hydroxide. The offtake agreement comes after LG Energy struck a deal for 50,000 tons of WesCEF's battery-grade lithium hydroxide in 2022. WesCEF's lithium hydroxide will be produced from the Mt. Holland lithium project in Western Australia, currently under construction and expected to commence operations by the first half of 2025. Last week, LG Energy, the biggest supplier of battery cells to electric scooter makers in India, said it plans to grow its presence in the country's passenger vehicle market. The company's India unit dominates the supply of battery cells to domestic e-scooter ...

The United States, Britain and more than a dozen other countries on Sunday unveiled what a senior US official described as the first detailed international agreement on how to keep artificial intelligence safe from rogue actors, pushing for companies to create AI systems that are "secure by design." In a 20-page document unveiled Sunday, the 18 countries agreed that companies designing and using AI need to develop and deploy it in a way that keeps customers and the wider public safe from misuse. The agreement is non-binding and carries mostly general recommendations such as monitoring AI systems for abuse, protecting data from tampering and vetting software suppliers. Still, the director of the US Cybersecurity and Infrastructure Security Agency, Jen Easterly, said it was important that so many countries put their names to the idea that AI systems needed to put safety first. "This is the first time that we have seen an affirmation that these capabilities should ...

The United Auto Workers union and Stellantis have reached a tentative contract agreement, both parties announced on Saturday. The United Auto Workers union and Stellantis announced Saturday they have reached a tentative agreement, more than 40 days after the union launched a strike against the big three U.S. automakers. The development comes days after the UAW and Ford reached a tentative agreement. United Auto Workers members walk the picket line during a strike at the Stellantis Sterling Heights Assembly Plant, in Sterling Heights, Mich., on Oct. 23, 2023. Paul Sancya/AP, FILE MORE: UAW reaches tentative deal with Ford "Once again, we have achieved what just weeks ago we were told was impossible," UAW President Shawn Fain said in a statement. According to the UAW, the tentative agreement includes 25% in base wage increases through April 2028 and will raise the starting wage to more than $30 an hour compounded with estimated cost-of-living allowances. Stellantis North Americ...

About 146,000 auto workers are prepared strike this week if their demands are not met by their employers – Big Three automakers General Motors, Ford and Stellantis. About 146,000 auto workers are prepared to strike this week if their demands are not met by their employers – Big Three automakers General Motors, Ford and Stellantis. Members of the United Auto Workers union are threatening to walk off their jobs in multiple states if the auto companies do not meet their demands over higher wages and benefits. The deadline the union has set for an agreement with the automakers is midnight Eastern time on Thursday. At least one meeting is planned between the union and automakers for Wednesday, Shawn Fain, president of the union , said on “Good Morning America.” “Can we get there? Yes, we can, but they need to buckle down and get busy. We've got 48 hours. That's not a lot of time," Fain said. If the strike shuts down production, it could cause a spike in vehicle prices and a s...