stellantis signed with Alliance Nickel an important binding agreement establishing the supply of 170 thousand tons of nickel sulfate and 12 thousand tons of cobalt sulphate for batteries for an initial period of five years.
What the agreement between Stellantis and Alliance Nickel provides
The deal is worth approximately 40% of the NiWest Nickel-Cobalt Project's projected annual production in Western Australia. “The price of nickel cobalt sulphate is linked to the price index,” Stellantis underlines in a note.
The Italian-French car company will also purchase 9,2 million euros (A$15 million) of new shares of Alliance Nickel, thus reaching a final stake of 11,5% and acquiring the right to appoint a member of the Alliance board of directors.
“The binding agreements and share purchase consolidate the partnership between Stellantis and Alliance Nickel which began in October 2022 with a non-binding memorandum of understanding for the supply of materials for electric vehicle batteries. The funds deriving from the share purchase will be used for the completion of the definitive Feasibility Study of the NiWest Project”, the company says, underlining that this will be joined by the engineering design activities, scheduled for the last quarter of 2023.
Tavares: "Essential partnership to provide clean mobility"
“The commitments established by Dare Forward 2030 and our role as leadership in decarbonisation they are based on ensuring the supply of key materials for our electric vehicles,” he said Carlos Tavares, CEO of Stellantis, highlighting that “the partnership with Alliance Nickel is an essential element of our plan to deliver clean, safe and accessible mobility worldwide".
The binding agreements "reinforce our development strategy for the NiWest Nickel-Cobalt Project, open up important new financing options and solidify our relationship with a world-class client and investor," he added. Paul Kopejtka, CEO of Alliance.
Stellantis: Sustainability Report published
As part of the strategic plan Give Forward 2030Stellantis has announced a goal of 2030% of its sales mix with battery electric vehicles in Europe and 100% with passenger cars and BEV light commercial vehicles in the US by 50. Stellantis also plans to halve its CO2 emissions by 2030 and achieve zero carbon dioxide emissions by 2038, with a single-digit offset percentage for remaining emissions.
In this context, Stellantis has today published its second report of Corporate Social Responsibility, confirming the commitments undertaken and the attention paid to the achievement of public objectives on social and environmental issues.
“We are aware of the role and responsibility we have towards the environmental and social challenges that our world is facing, including the adoption of innovative solutions capable of guaranteeing freedom of mobility for everyone” said Carlos Tavares, CEO of Stellantis . “Thanks to a holistic 360-degree approach with stakeholders, we have made significant progress towards our ambitious goal of zero carbon emissions by 2038, helping to protect the planet and, at the same time, the future of our Company”.
The activities included in the report are an integral part of the long-term strategic plan. In the note, the company also recalled the main initiatives carried out in 2022, including the development of the climate report which illustrates the company's approach to decarbonisation and confirms the direction taken by Stellantis to become, by 2038, a company zero carbon emissions. In 2022, Stellantis achieved an 11% reduction in its carbon footprint in scopes 1 and 2 compared to 2021. Several global policies were also launched and implemented including the environmental and energy policy, the human rights policy and the global responsible purchasing guidelines. In terms of governance, 27% of leadership positions are held by women and the goal is to reach 30% by 2025.
