2023-06-30 07:00:00
Stellantis continues to rely on battery materials from Europe to achieve its electrification goals. To this end, the multi-brand group has now signed an agreement that guarantees a future production purchase of 35 percent of nickel and cobalt sulfate from Kuniko’s exploration projects in Norway for nine years. In addition, Stellantis has agreed to invest EUR 5.0 million in new equity in Kuniko. The group will thus hold 19.99% of the shares in the future and may nominate one member of the Management Board.
“With Kuniko, we are adding a new lever to support our European battery needs with local and environmentally conscious solutions from its Norwegian projects,” says Stellantis Purchasing Director Maxime Picat. By 2030, Stellantis plans to have all passenger cars it sells in Europe and half of all passenger cars and light commercial vehicles in the US battery-electric only. In addition, by 2038, all business areas are to achieve net-zero CO2 emissions and the remaining emissions are offset in the single-digit percentage range.
In addition to Kuniko, the Group has entered into agreements with Alliance Nickel, McEwen Copper, Terrafame, Vulcan Energy, Element 25 and Controlled Thermal Resources to ensure stable availability of important raw materials for its electrified future. (awm)
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