Stellantis reaches deal on lithium supply for EVs

Monday, 29. November 2021 10:58

Stellantis NV announced on Monday it has reached an agreement with Vulcan Energy Resources Limited on the supply of lithium hydroxide that will be used to manufacture batteries in Europe.

Per the two's five-year agreement, Vulcan Energy will provide Stellantis with 81,000 tons and a maximum of 99,000 tons of lithium hydroxide, with the first shipments scheduled for 2026. The deal is a part of the company's effort to contribute to the pan-European project Zero Carbon Lithium and have over 70% of its vehicles marketed in Europe and 40% of those in the United States be low-emission (LEV) vehicles by 2030.

Stellantis recently stated it intends to produce two million electric vehicles (EV) per year.

Related Links: Stellantis N.V.
Baha Breaking the News (BBN) / JR