Business

Stellantis Secures Lithium Supply in North America; Warning about possible battery shortages by Investing.com


© 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.

Source link

kignews

Kig News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button