AZL General Discussion, page-40

AZL will likely produce both lithium carbonate and hydroxide with the mix ratio designed to match the market. LiOH costs more to produce via the clay acid route but attracts a higher price. Carbonate will flow to LFP batteries and hydroxide more likely to higher price high nickel content batteries in my view. The market for each is obviously going to be huge. Far more than AZL can ever hope to meet and will dwarf anything Tesla can consume. AZL is next door to the Lucid Motor Company - makes as much or more sense to talk to them as it is to Tesla. But our product has to go to a battery and cathode manufacturer en route and these assets still need to be built in Arizona for the value chain to firm up. All of this will happen in the next couple of years in my view. Patience needed. GLTAH.