Next.e.GO Mobile SE (“e.GO”), an innovative producer of urban electric vehicles, has announced that it has entered into a memorandum of understanding (MOU) with Trafigura Pte. Ltd., a leading international commodity company, to establish a long-term supply chain management service agreement focused on the supply of aluminium and battery metals such as lithium, cobalt, and copper.
e.GO, based in Aachen, Germany, designs and manufactures battery electric vehicles for the urban environment, with a focus on convenience, reliability and affordability. The Company’s proprietary technologies and low capex MicroFactory production facilities have ushered in innovative solutions for producing electric vehicles. The Company is focused on true lifecycle sustainability of urban electro mobility with a view toward material science, production technology, robotics and digitization.
Under the MOU, Trafigura will supply 100% of e.GO’s requirements for transition and battery metals. The MOU also details the approach that will be taken for measuring carbon intensity for each source of metals across the supply chain and providing carbon declaration and transparency through the Agora supply chain emissions platform.
The long-term supply chain management service agreement between the two companies is expected to commence in January 2024 and will run for a minimum of five years, ending in January 2029. In addition, the MOU includes provisions for a supply credit facility.
“This partnership marks an important step forward for us at e.GO, as we work together with one of the leading and most resourceful partners in the industry to meet the increasing demand for electric vehicles and deliver on our mission of steadfast transition to a zero-emission urban mobility,” said Ali Vezvaei, Chairman of the Board at Next.e.GO Mobile SE.