© Reuters Stellantis (STLA) Securing Lithium supplies in North America; Warning about possible battery shortage
By Michael Elkins
Stellantis (NYSE:) announced Thursday that Dodge parent company Jeep Ram has secured the lithium needed for its electric vehicle production in North America from a project in California. According to Stellantis, Controlled Thermal Resources Limited (CTR) will supply up to 25,000 tonnes of lithium hydroxide per year over the 10-year term of the agreement.
It is expected to begin production in 2024. A battery typically uses a few grams of the mineral, much of which is sourced from China today, and prices have increased in recent years. No details were provided on the financial terms of the deal.
The company also said it expects an EV battery shortage to hit the auto industry by 2024-2025 as manufacturers try to boost EV sales while building factories. manufacture new batteries.
“Ensuring we have a strong, competitive and low-carbon lithium supply from different partners around the world will allow us to meet our production plans,” said CEO Carlos Tavares. your active electric vehicle responsibly”.
Based in Australia and operating out of California’s Salton Sea, CRT is also developing a lithium geothermal brine project to meet General Motors (NYSE:)’s lithium needs.