On July 25, it was announced that Graphite One, a company specializing in anode materials, signed a non-binding supply agreement with electric vehicle manufacturer Lucid. The agreement stipulates that once Graphite One begins producing synthetic graphite, Lucid will purchase 5,000 tons annually. The initial term is set for five years, with the possibility of early termination. Sales will be based on an agreed price formula linked to future market pricing and pricing conditions agreed upon by both parties. Currently, 100% of lithium battery graphite anodes in the US are imported, while Graphite One plans to establish a lithium anode factory based on its graphite mines in the US.