Saturday, February 4, 2023

Stellantis signs a binding agreement with Element 25 Ltd. for the supply of manganese sulfate for electric vehicle batteries

Stellaris NV and Element 25 today announced the signing of a binding agreement under which Element 25 will supply high-purity manganese sulfate monohydrate for electric vehicle batteries. The five-year agreement plans to start shipments in 2026 and deliver a total volume of 45,000 tonnes, and includes an option to extend the term and quantity of supplies.

Element 25 will source ore from the Butcherbird deposit which is in Western Australia and plans to build a processing plant in the United States. Stellaris will make an equity investment in Element 25.

Carlos Tavares, CEO of Stellantis, has announced: “Our commitment to achieving net zero carbon emissions in the future includes building an intelligent supply chain that allows us to meet the demand for electric vehicles from our customers. Electric Cars Which provide an innovative customer experience in terms of propulsion, connectivity and comfort, are essential to meet our Dare Forward 2030 plan, which advocates safe, clean and affordable mobility.

The agreement with Element 25 reinforces Stellantis’ electrification strategy, which includes guaranteeing an adequate supply of raw materials for the production of battery electric vehicles. Manganese is a major stabilizer element in the cathode of such batteries.

As part of its Dare Forward 2030 strategic plan, Stellantis has announced its goal to achieve 100% of passenger cars sold in Europe and 50% of passenger cars and light-duty trucks sold in the US by 2030 . .be electric. Stellaris will lead the industry’s fight against climate change by reaching net zero carbon emissions by 2038, with a 50% reduction by 2030.

Stellaris plans to invest more than 30,000 million euros by 2025 in electrification and software development projects, and aims to remain 30% more efficient than the rest of the sector in terms of total expenditure on capital goods and R&D compared to income. intends to

“Stellentis’ support of Element 25’s project to produce high-purity manganese sulfate for batteries is a great compliment from one of the world’s largest automobile manufacturers and reflects our commitment to becoming a globally relevant supplier of battery materials. supports the plans. To meet long-term demand growth, Justin Brown, Managing Director of Element 25, says: “We are fully aligned with Stellantis’ decarbonization and electrification goals, which are among the most ambitious in the industry, and with this agreement , we are also committed to achieving Net Zero.” carbon emission.”

The compliance of the terms of the Agreement by both the parties is subject to the completion of due diligence of a technical nature and the conclusion of the feasibility study with satisfactory results.

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