Lithium’s increasing demand has electric vehicle (EV) automakers rapidly searching for ongoing supply deals, with Stellantis also recently announcing a decade-long deal.
Stellantis inked an ongoing deal with Controlled Thermal Resources Ltd. (CTR) to supply Jeep and Peugeot with lithium hydroxide over a 10-year period, according to Automotive News.
The news came in an announcement from Stellantis on Thursday, during which the automaker said CTR will supply it with as much as 25,000 metric tons of lithium hydroxide.
In a statement, Stellantis CEO Carlos Tavares said, “Ensuring we have a robust, competitive, and low-carbon lithium supply from various partners around the world will enable us to meet our aggressive electric vehicle production plans in a responsible manner.”
Stellantis is also gearing up for an expected shortage of EV batteries in 2024-2025 as competition continues to increase.
Stellantis, LG Energy to Build $4.1 Billion EV Battery Factory in Ontario, Canada https://t.co/SQJghrLn4A
— TeslaNorth.com (@RealTeslaNorth) March 23, 2022
CTR’s Imperial County, California will produce both lithium hydroxide and lithium carbonate, with estimated production capacities of over 300,000 metric tons each year.
CTR is also working on a geothermal lithium brine project for General Motors (GM), and the company currently facilitates California’s Salton Sea — a lithium-dense, highly-saline body of water in the state.
Additionally, Stellantis announced plans to spend $2.79 billion to retool its Canadian production facilities for EV production.
In March, Stellantis also shared a target of reaching 100 percent battery-electric sales in Europe by 2030.
