- Stellantis NV (NYSE:STLA) has signed an agreement for Element 25 to supply battery-grade, high-purity manganese sulphate monohydrate for use in electric vehicle (EV) battery packs.
- Element 25 is an ASX-listed company operating a 100%-owned Butcherbird Manganese Project in Western Australia and developing manganese sulphate monohydrate (HPMSM) products for traditional and new energy markets.
- The five-year agreement calls for shipments to commence in 2026, a total volume of 45 kilotons.
- The agreement also has options to extend the supply term and volumes.
- Element 25 will source the material from its Butcherbird project in Western Australia and plans to construct a processing facility in the U.S.
- Also Read: Stellantis CEO Warns Of More Plant Closures
- In addition, Stellantis will make an equity investment in Element 25.
- “Our commitment to a carbon net zero future includes creation of a smart supply chain to ensure we meet our customers’ desire for EVs,” said Stellantis CEO Carlos Tavares.
- As part of its Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the U.S. by 2030.
- Also Read: Stellantis Establishes New ‘Mobilisights’ Independent Business Unit
- Price Action: STLA shares closed higher by 1.85% at $15.45 on Friday.
- Photo Via Company
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