April 10 (Reuters) - The combined company following

Australia-based Sayona Mining's ( SYAXF ) deal to buy Piedmont

will be known as Elevra Lithium and its board will have

four nominees from each of the two firms, the miners said on

Thursday.

Lithium companies have been reeling from low prices as rapid

supply growth has outpaced strong demand projections amid a

slower-than-expected uptake of electric vehicles.

In November, Sayona said the all-stock deal for U.S.-based

Piedmont will help to consolidate its Canadian operations and

strengthen its exposure to the North American electric vehicle

sector.

Analysts expect prices of the metal to remain under pressure

in 2025 as well owing to an unwaveringly resilient lithium

supply.

The merger is expected to be completed in mid-2025, the

companies said.