MILAN—The carmaker Stellantis said Monday that it has secured a five-year supply of battery-grade lithium hydroxide in Europe to support its plans to convert to 98 percent electrified vehicles by 2025.
Stellantis, the company that combined PSA Peugeot and Fiat Chrysler, signed a binding agreement with Vulcan Energy Resources Ltd. in Germany, which uses geothermal energy to produce the battery-quality lithium hydroxide from brine without using fossil fuels. Vulcan will supply between 81,000 metric tons and 99,000 metric tons of lithium hydroxide over the five-year term of the agreement.
