Stellantis to Invest in Battery-Materials Supplier as Part of Electric-Vehicle Drive

By Joshua Kirby

Stellantis NV said Monday that it is investing in supplier Element 25 as it looks to secure its electric-vehicle expansion plans.

The Jeep maker will make an unspecified equity investment in Australian miner Element 25, which will supply the group with battery-grade manganese sulphate for use in its EV battery packs.

The five-year supply agreement will begin shipments in 2026 with a total volume of 45 kilotons of the material, with an option to expand both term and volume, Stellantis said.

Element 25 will source the manganese sulphate--which is used to stabilize EV-battery cathodes--from its Butcherbird project in Western Australia and plans to construct a processing facility in the U.S., Stellantis said.

The deal is part of the auto maker's efforts to secure substantial supplies of EV-battery materials. Stellantis plans for 100% of its Europe vehicles to be electric by 2030, along with 50% of all passenger cars and light trucks in the U.S.

Write to Joshua Kirby at [e-mail]; @joshualeokirby

(END) Dow Jones Newswires

January 09, 2023 02:32 ET (07:32 GMT)

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