Highlights
- Agreement grows Stellantis' decarbonized supply of key raw material for electrified vehicles
- Sustainable lithium hydroxide to support Stellantis U.S. product offensive of over 25 all-new battery electric vehicle (BEV) launches and 50% BEV sales planned by 2030
- Binding offtake agreement sets a new sustainability benchmark for U.S. battery supply chain
Stellantis N.V. and Controlled Thermal Resources Ltd. (CTR) announced today the signing of a binding offtake agreement for CTR to supply battery grade lithium hydroxide for use in Stellantis' North American electrified vehicle production.
CTR's Hell's Kitchen Project in California's Imperial County will recover lithium from geothermal brines utilizing renewable energy and steam to produce battery grade lithium products in an integrated, closed-loop process, eliminating the need for evaporation brine ponds, open pit mines, and fossil-fueled processing.
"In the fight against global warming, bolstering our battery electric vehicle supply chain to support our bold electrification ambitions is absolutely critical," said Carlos Tavares, Stellantis CEO. "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."
"This definitive offtake agreement with Stellantis sets a new benchmark for the automotive industry in the United States," said Rod Colwell, CTR's CEO. "Securing clean lithium produced with energy from a renewable resource helps to further decarbonize the battery supply chain which in turn, delivers cleaner cars with less environmental impact. We look forward to a strong and successful relationship with Stellantis."
CTR will supply Stellantis with up to 25,000 metric tons per year of lithium hydroxide over the 10-year term of the agreement. Stellantis announced in late 2021 a similar supply deal to support its European vehicle production.
As part of the Dare Forward 2030 strategic plan, Stellantis announced plans to have global annual battery electric vehicle sales of five million vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in North America. Stellantis also increased planned battery capacity by 140 GWh to approximately 400 GWh, to be supported by five battery manufacturing plants in Europe and North America, together with additional supply contracts.
CTR will produce battery grade lithium hydroxide and lithium carbonate along with geothermal energy in Imperial County, California with a resource production capacity in excess of 300,000 metric tons per year.
About Stellantis
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today's customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves - aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.
About CTR
Controlled Thermal Resources Limited ("CTR"), through its project companies, specializes in lithium minerals and renewable energy production with projects in advanced development in the United States. CTR's leadership team has successfully developed and managed geothermal operations in the Salton Sea region for 30 years. This location-specific, highly specialized knowledge has been instrumental in advancing CTR's projects. CTR is committed to delivering sustainable, low-cost lithium products and renewable power to support California's clean energy initiatives and to ensure a secure and socially responsible lithium product supply chain. For more information, visit www.cthermal.com.
