- Stellantis invests €50 million in Vulcan Energy.
- The offtake agreement is extended to 10 years.
- Vulcan plans to produce lithium hydroxide with zero fossil fuels.
- Stellantis aims for 100% BEV sales in Europe by 2030.
Investment and Agreement Extension
Stellantis N.V. has made a €50 million equity investment in Vulcan Energy Resources Ltd. This investment will support Vulcan's planned production expansion drilling in the Upper Rhine Valley Brine Field (URVBF). Additionally, the original binding offtake agreement between the two companies has been extended to 10 years.
Zero Carbon Lithium™ Project
Vulcan is currently producing geothermal energy from its URVBF and aims to produce lithium hydroxide with zero fossil fuels and a net zero carbon footprint as part of its Zero Carbon Lithium™ Project. This initiative aligns with Stellantis' goals for sustainable and strategic sourcing of battery materials.
Dare Forward 2030 Strategic Plan
As part of its Dare Forward 2030 strategic plan, Stellantis has set ambitious targets, including achieving a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% BEV sales mix for passenger cars and light-duty trucks in the United States by 2030. The company also aims to become carbon net zero by 2038, with a 50% reduction by 2030.
North American Supply Agreement
Stellantis has also recently announced a lithium hydroxide supply agreement for its North American operations, further supporting its electrification and decarbonization objectives.
