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Stellantis has announced a pair of deals this week to secure access to solid state and lithium battery technology to power the transformation of its model offerings to electric.
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The company signed a joint development agreement Tuesday to invest in Factorial Energy’s high-voltage traction solid state battery technology.
On Monday Stellantis inked a deal with Vulcan Energy Resources to supply battery grade lithium hydroxide in Europe for use in electrified vehicles to the Stellantis Group. The five-year agreement calls for shipments to begin in 2026.
“Our investment in Factorial and other highly recognized battery partners boosts the speed and agility needed to provide cutting-edge technology for our electric vehicle portfolio,” said Stellantis CEO Carlos Tavares in a statement.
“Initiatives like these will yield a faster time to market and more cost-effective transition to solid-state technology.”
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Factorial, which is based in Massachussetts, has developed solid-state technology that addresses key issues holding back wide-scale consumer adoption of electric vehicles: driving range and safety.
Stellantis announced in July its target of having the first competitive solid state battery technology introduced by 2026.
The company is aiming to have more than 70 per cent of its vehicle sales in Europe and more than 40 percent of sales in the United States be low emission vehicles (LEV) by 2030.
The five-year deal with Vulcan also calls for shipments to begin in 2026.
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Vulcan’s Zero Carbon Lithium™ Project in the Upper Rhine Valley in Germany uses geothermal energy to produce battery-quality lithium hydroxide from brine without the use of fossil fuels and minimal water usage, reducing the generation of carbon in the battery metals supply chain.
The German-based company will supply Stellantis with a minimum of 81,000 tonnes and a maximum of 99,000 tonnes of lithium hydroxide over the five-year term of the agreement.
The supply agreement is subject to the successful start of commercial operation at the Vulcan facility and full product qualification.
Dwaddell@postmedia.com
Twitter.com/winstarwaddell
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