Stellantis and Terrafame signed an agreement to supply nickel sulfate to create electric car batteries. The five-year deal calls for Terrafame to provide Stellantis with nickel sulfate beginning in 2025. The arrangement with Terrafame is part of Stellantis' ambitious electrification strategy, allowing it to meet a large portion of the region's need for an electric vehicle battery.
"This arrangement is part of Stellantis' procurement plan for critical raw materials to meet our demands for the production of battery packs for electric vehicles," Stellantis CEO Carlos Tavares stated. "We continue constructing a new global value chain with world-class partners to support our global strategy. We remain committed to being the industry benchmark in combating climate change, with a goal of zero net emissions by 2038, ahead of the competition."
Stellantis declared the target of reaching 100% of its sales mix with battery electric cars (BEVs) in Europe and 50% with passenger cars and light commercial vehicles BEVs in the US by 2030 as part of the Dare Forward 2030 strategic plan. Stellantis plans to invest more than 30 billion euros in electrification and software development by 2025 to provide its customers with clean, safe, and affordable mobility. The company also aims to be 30% more efficient than the industry average in total R&D and Capex spending versus revenues.
Terrafame in Finland operates one of the world's largest EV battery chemistry facilities. Terrafame's production is traceable because it uses an integrated manufacturing process from mine to battery chemistry at a single industrial site. Furthermore, according to Terrafame's exclusive production technique, the carbon emissions of the nickel sulfate produced are among the lowest in the industry.
"Working with industry leaders like Stellantis reinforces Terrafame's position as a key partner for the supply of battery chemistry components to the European automobile sector," Terrafame CEO Joni Lukkaroinen stated. "In these terrible circumstances, there is a significant need for battery chemistry manufactured sustainably and openly in Europe, for Europe. We are honored to contribute to the decarbonization of European transportation and the efficiency of the continent's automotive sector."
