Stellantis to Invest in Battery-Materials Supplier as Part of Electric-Vehicle Drive
09 Januar 2023 - 8:47AM
Dow Jones News
By Joshua Kirby
Stellantis NV said Monday that it is investing in supplier
Element 25 as it looks to secure its electric-vehicle expansion
plans.
The Jeep maker will make an unspecified equity investment in
Australian miner Element 25, which will supply the group with
battery-grade manganese sulphate for use in its EV battery
packs.
The five-year supply agreement will begin shipments in 2026 with
a total volume of 45 kilotons of the material, with an option to
expand both term and volume, Stellantis said.
Element 25 will source the manganese sulphate--which is used to
stabilize EV-battery cathodes--from its Butcherbird project in
Western Australia and plans to construct a processing facility in
the U.S., Stellantis said.
The deal is part of the auto maker's efforts to secure
substantial supplies of EV-battery materials. Stellantis plans for
100% of its Europe vehicles to be electric by 2030, along with 50%
of all passenger cars and light trucks in the U.S.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
January 09, 2023 02:32 ET (07:32 GMT)
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