HomeBusinessStellantis has signed a five-year contract with Finland's Terrafame to purchase nickel...

Stellantis has signed a five-year contract with Finland’s Terrafame to purchase nickel sulphate

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Stellantis N.V. and Terrafame Ltd. have signed a supply agreement for nickel sulphate to be used in electric vehicle (EV) batteries. Beginning in 2025, Finland-based Terrafame will provide Stellantis with nickel sulphate for the agreement’s five-year duration. As part of Stellantis’ aggressive electrification strategy, the Terrafame deal will cover a large share of the need for a sustainably derived regional nickel.

According to the CEO of Stellantis, Carlos Tavares, this deal is part of the company’s essential raw material procurement for its electrified vehicle battery packs. Continuing to build a new global value chain with Class A partners to support its global strategy and propel its commitment to be the industry leader in climate change mitigation by becoming carbon net zero by 2038, ahead of the competition, he stated that the company continues to build a new global value chain.

Stellantis declared, as part of its Dare Forward 2030 business plan, its intention to reach 100 per cent passenger car battery electric vehicle (BEV) sales mix in Europe by 2030 and 50 per cent passenger car and light-duty truck BEV sales mix in the United States. To provide its consumers with clean, safe, and economic mobility, Stellantis expects to invest over €30 billion in electrification and software development through 2025 while aiming to be 30 per cent more efficient than the industry in terms of total Capex and R&D spending relative to revenues.

Terrafame operates one of the world’s largest battery chemistry plants for electric vehicle batteries in Finland. Terrafame’s manufacturing is traceable, beginning in its mine and concluding with battery chemicals on a single industrial site, thanks to its integrated production process. In addition, the carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry, thanks to the company’s innovative production technology.

Cooperation with market leaders like Stellantis strengthens Terrafame’s position as a key supplier of battery chemicals to the European automobile sector, according to Terrafame CEO Joni Lukkaroinen. In these difficult circumstances, there is a clear demand for battery chemicals manufactured responsibly and transparently in Europe for Europe. He stated that the company is happy to contribute to decarbonizing European mobility and enhancing the efficiency of the European automotive sector.

On January 5, a definitive contract was signed between Stellantis and Element 25 Limited, an Australian mining company. According to the terms of the agreement, Element 25 will supply Stellantis with battery-grade, high-purity manganese sulphate monohydrate (HPMSM) that can be used in electric vehicle (EV) battery packs.

Frontier India News Network
Frontier India News Networkhttps://frontierindia.com/briefs
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