Stellantis signs Nickel and Cobalt supply deal

(Credit: Stellantis)

 Stellantis signed a supply deal with battery metal supplier Kuniko for low-carbon nickel and cobalt sulfate. The deal will help Stellantis build a sustainable battery supply chain for electric vehicle (EV) production. 

With the 9-year term deal, Stellantis secured 35% of Kuniko’s future production off-take of nickel sulfate and cobalt sulfate. The battery metal will be coming from Kuniko’s Norwegian exploration projects. 

The legacy automaker also purchased €5.0 million ($5.5 million) in new equity in Kuniko. As a result, Stallantis has a 19.99% shareholding on completion and the right to nominate one director to Kuniko’s board. 

“We are on an aggressive path to securing a holistic portfolio of raw materials needed to meet our Dare Forward 2030 electrification targets,” said Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat. “With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects.”

Stellantis’ agreement with Kuniko is just one of the various partnerships the legacy automaker has entered to ensure a stable, sustainable raw material supply chain for electric vehicle production. Stellantis also partnered with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25, and Controlled Thermal Resources. 

Stellantis’ ultimate goal is to reach a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. It also aims to become a carbon net zero corporation by 2038. 

The legacy automaker will release a $27,000 BEV in 2024, around the same time as the Volvo EX30 and Volkswagen ID.2 launch into the market. The $27,000 BEV will be called the e-C3, and it will be coming from Stellantis’ Citroen brand. The Citroen e-C3 will compete directly with the China-made Dacia Spring and Renault 5EV. Stellantis hope the Citroen e-C3 will cater to mass-market customers and steer them away from affordable China-made EVs. 

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Stellantis signs Nickel and Cobalt supply deal
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