Carmaker Stellantis secures lithium battery supply


Carmaker Stellantis said on Monday that it had secured a five-year supply of lithium hydroxide batteries in Europe to support its plan to transition to 98% electric vehicles by 2025.

Stellantis, the combined company of PSA Peugeot and Fiat Chrysler, has entered into a binding agreement with Vulcan Energy Resources Ltd. in Germany, using geothermal energy to produce quality lithium hydroxide batteries from brine without the use of fossil fuels. Vulcan will supply between 81,000 tonnes and 99,000 tonnes of lithium hydroxide over the five-year term of the agreement.

All the leading automakers are working on electric vehicles as concerns about climate change grow. Also on Monday, Nissan said it is investing 2 trillion yen ($17.6 billion) over the next five years and developing a cheaper, more powerful battery to boost its electric vehicle lineup.

Stellantis says its agreement supports the supply of key raw materials for decarbonized electric vehicle battery packs.

The carmaker announced plans in July last year to convert almost all of its production to electric or hybrid by 2025. Under the plan, more than 70% of vehicles are sold in Europe and 40%. Vehicles sold in the US will be low-emissions vehicles. Year 2030.

Michelle Wen, Director of Purchasing and Supply Chain at Stellantis said: “Stellantis is moving forward with its electrification strategy with speed and strength. This agreement is further proof that we have a competitive spirit to compete for. fulfill its commitments”. “The freedom to travel safely, cleanly and affordably represents a strong expectation of our society, and we are committed to making it happen.”

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