They intend battery electric cars to account for 100% of its European passenger car sales and 50% of its US passenger car and light-duty truck sales by 2030. The world's third-largest automaker by sales, has already struck agreements with GME Resources for the supply of nickel and cobalt sulphate, as well as with Vulcan Energy Resources and Controlled Thermal Resources (CTR) in the United States for lithium hydroxide.

Element 25 will supply Stellantis with high-purity manganese sulphate monohydrate for use in battery packs under the terms of a five-year binding agreement announced on Monday. Shipments of 45 kilotons are scheduled to commence in 2026, with possibilities to expand the duration and quantities. The material will be sourced from Element 25's Butcherbird project in Western Australia, and the company intends to build a processing plant in the United States. Meanwhile, Stellantis will make an equity investment in Element 25.

Movement of Stellantis stocks in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/stla:fp

https://www.media.stellantis.com/em-en/corporate-communications/press/stellantis-signs-binding-agreement-with-element-25-limited-for-manganese-sulphate-supply-for-electric-vehicle-batteries

https://money.usnews.com/investing/news/articles/2023-01-09/carmaker-stellantis-seals-batteries-material-deal-with-element-25

https://www.reuters.com/business/autos-transportation/carmaker-stellantis-seals-batteries-material-deal-with-element-25-2023-01-09/

https://www.investing.com/news/stock-market-news/carmaker-stellantis-seals-batteries-material-deal-with-element-25-2975797