Stellantis pushes on lithium and becomes second shareholder of the Australian mining company Vulcan Energy. After the agreement on the supply of lithium hydroxide signed in North America, the Italian-French car company has invested 50 million eurosfor A$76 million to buy an 8% stake in Vulcan and extend the binding climate-friendly lithium supply agreement to 10 years signed in November last year.
The agreement between Stellantis and Vulcan Energy
The agreement is part of the strategic plan "Dare Forward 2030" which aims to cover 2030% of the sales mix of battery electric cars in Europe and 100% of passenger cars and light commercial vehicles in the United States by 50. The goal is to achieve the goal of net zero emissions by 2038, with a 50% reduction by 2030.
“The equity investment will help increase drilling at its Upper Rhine Valley Brine Field producing field for Vulcan's anticipated production expansion. Vulcan is already producing geothermal energy at its URVBF site and, as part of the Zero Carbon Lithium™ project, plans to produce lithium hydroxide without fossil fuels and with a net zero carbon footprint,” Stellantis said in a statement.
CEO Tavares: "We will create a value chain for battery production"
Satisfied the CEO, Carlos Tavares, according to which “This highly strategic investment in a leading lithium company will allow us to create a resilient and sustainable value chain for our European production of electric vehicle batteries”.
“We continue to seek solid relationships with partners who share our values – continued the manager – collectively tackling global warming and offering clean, safe and convenient mobility to our customers.”
"Stellantis' significant investment in Vulcan and the Zero Carbon Lithium™ project represents a clear statement by one of the world's largest automakers on the strategic and sustainable sourcing of battery materials," he said. Vulcan CEO Francis Wedin.
