Vulcan inks another offtake in Europe
PERTH (miningweekly.com) – ASX-listed Vulcan Energy Resources has signed a binding lithium hydroxide offtake agreement with NYSE-listed Stellantis.
Starting in 2026, Vulcan will supply between 81 000 t and 99 000 t of battery grade lithium hydroxide over the duration of the initial five-year agreement.
Consistent with Vulcan’s strategy to decarbonise the battery metals supply chain, the Stellantis electrification strategy includes ensuring a sustainable supply of lithium, which it has identified as a critical battery raw material with regard to availability.
By 2030, more than 70% of Stellantis’ European sales and more than 40% of its US sales will be low emission vehicles (LEVs). Stellantis’ plans call for a total of five battery cell manufacturing plants in Europe, including Germany, and the US, with a total capacity of 260 GWh.
The battery grade lithium hydroxide will be used by the three Stellantis battery production facilities in Europe, which combined will produce at least 120 GWh hours of cell capacity by 2030.
“The definitive offtake agreement with Stellantis aligns with our mission to decarbonise the lithium-ion battery and electric vehicle supply chain. The Vulcan Zero Carbon lithium project also intends to reduce the transport distance of lithium chemicals into Europe, and our location in Germany, proximal to Stellantis’ European gigafactories, is consistent with this strategy,” said Vulcan MD Dr Francis Wedin.
“We look forward to a long and productive relationship between Vulcan and Stellantis, as we work to achieve our shared sustainability and decarbonisation ambitions.”
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