Stellantis secures lithium supply from California for EV batteries
(Reuters) – Stellantis NV has secured lithium important for its electrical automobile manufacturing in North America from a venture in California, as carmakers worldwide scramble to safe provide of the battery metallic key to the electrical automobile revolution.
Managed Thermal Sources Ltd (CTR) will provide the proprietor of Jeep and Peugeot with as much as 25,000 metric tons per 12 months of lithium hydroxide over the 10-year time period of the settlement, Stellantis stated on Thursday.
CTR, which operates in California’s Salton Sea, can be growing a geothermal lithium brine venture to fulfill Common Motors Co’s lithium wants.
Lithium demand has soared of late as automakers enhance manufacturing of electrical autos that use lithium-ion batteries, driving a worldwide provide scarcity of the metallic.
Stellantis, fashioned in 2021 via the merger between France’s PSA and Fiat Chrysler (FCA), stated in March it will have 75 battery electrical automobile (EV) fashions in the marketplace and promote 5 million EVs a 12 months by 2030.
The corporate has additionally stated it expects a scarcity of EV batteries to hit the auto business in 2024-2025 as producers attempt to ramp up EV gross sales whereas constructing new battery factories.
“Guaranteeing we’ve got a sturdy, aggressive, and low-carbon lithium provide from numerous companions all over the world will allow us to fulfill our aggressive electrical automobile manufacturing plans in a accountable method,” stated Chief Govt Carlos Tavares in a press release.
CTR will produce battery grade lithium hydroxide and lithium carbonate together with geothermal vitality in Imperial County, California, with a useful resource manufacturing capability in extra of 300,000 metric tons per 12 months.
(Reporting by Kannaki Deka in Bengaluru; Modifying by Devika Syamnath)
