Automotive Giant Stellantis Buys Stake in Aussie Miner as Lithium Costs Skyrocket

An EVGo station for charging electric vehicles in Irvine, Calif., on March 25, 2022. John Fredricks/The Epoch Times

The world’s fifth-largest automaker Stellantis—manufacturer of 14 makes, including Jeep, Maserati, and Chrysler—will become the second-largest shareholder of Australian lithium miner Vulcan Energy Resources.

To fuel its ongoing electric vehicle sales, the carmaker will pay $76 million (US$52.45 million) to acquire an eight percent stake in Vulcan.