The mining and refinery company has agreed to a five-year deal, providing the automaker enough lithium hydroxide each year to power 150,000 EVs. The battery material will come from its first lithium converter in Germany, for a sales volume of about $2 billion. (The Logic)

Talking point: Rock Tech CEO Markus Bruegmann said the deal establishes the miner as a “new but reliable player in a diversified European battery supply chain,” while Mercedes Chief Technology Officer Markus Schäfer said the automaker is pursuing the “localization of European production.” Europe has been looking for friendly trade partners to diversify sources of EV inputs like cobalt and rare-earth minerals, as the energy crisis weighs on the auto sector. The deal, which was negotiated in August, comes amid a heavy diplomatic push by Canadian officials in Germany, including hosting German Chancellor Olaf Scholz this summer, and a meeting between Ontario Economic Development Minister Vic Fedeli and Mercedes-Benz this month.