Stellantis announces a $100 million investment

Stellantis is investing over $100 million in the acquisition of American lithium for electric vehicle batteries, with the aim of strengthening domestic supply. The partnership with Controlled Thermal Resources guarantees an annual supply of 65,000 tonnes of lithium hydroxide monohydrate.

Partagez:

Carmaker Stellantis will spend over $100 million to acquire 650,000 tonnes of American lithium, essential for the manufacture of electric batteries, it announced in a press release on Thursday.

Stellantis commits to using more American lithium for its electric vehicles

Controlled Thermal Resources, a US company, is to supply 65,000 tonnes of lithium hydroxide monohydrate to Stellantis every year for 10 years from 2027, compared with the 25,000 tonnes initially provided for in an agreement signed in June 2022. Thanks to this supply, the electric vehicles of the group, which owns the Jeep, Peugeot and Fiat brands among others, will be eligible for consumer incentives under the U.S. Inflation Reduction Act (IRA).

Adopted in 2022, it stipulates that to be eligible for a $3,750 bonus, electric vehicle batteries must contain at least 40% minerals mined or processed in the USA. This rate is set to rise each year, reaching 80% by 2027. The lithium sold by Controlled Thermal Resources will be extracted from a brine captured in the Californian subsoil “using renewable energy and steam in an integrated closed-loop process”, says Stellantis in its press release. Called Hell’s Kitchen, the Californian site of Controlled Thermal Resources will eventually have an annual production capacity of 300,000 tonnes of lithium.

Construction of the production plant began in early January. In Europe, Stellantis has teamed up with Australia’s Vulcan Energy for two lithium extraction projects, in Germany and Alsace. The automaker’s ambition is to sell only electric cars in Europe from 2030. Battery-powered passenger vehicles should account for 50% of its US sales by the same date, he also forecast.

Invenergy seals four further contracts with Meta to supply nearly eight hundred megawatts of solar and wind power to the group’s data centres, lifting total cooperation between the two companies to one point eight gigawatts.
Pedro Azagra leaves his role as CEO of Avangrid to become CEO of Iberdrola, while Jose Antonio Miranda and Kimberly Harriman succeed him as CEO and Deputy CEO respectively of the American subsidiary.
The US investment fund Ares Management enters Plenitude's capital by acquiring a 20% stake from Eni, valuing the Italian company at 10 billion euros and reinforcing its integrated energy strategy.
ENGIE secures a contract to reduce Airbus' industrial emissions in France, Germany, and Spain, targeting an 85% decrease by 2030 through various local energy infrastructures.
Alain Rhéaume, Chairman of Boralex’s Board of Directors for eight years, will leave his position by December, following the appointment of his successor by the governance committee of the Canadian energy group.
Norwegian group Statkraft plans an annual cost reduction of NOK2.9bn ($292 million) by 2027, citing possible job cuts amid rising financial burdens and volatility in the European energy market.
EDF merges EDF Renouvelables and its International Division into EDF power solutions, led by Béatrice Buffon, to optimise its global 31 GW low-carbon energy portfolio and strengthen its international positioning.
TotalEnergies announces a strategic partnership with Mistral AI to establish a dedicated innovation laboratory integrating artificial intelligence tools aimed at enhancing industrial efficiency, research, and customer relations.
The Energy Transitions Commission warns of economic risks tied to growing protectionism around clean technologies, while calling for global consensus on carbon pricing.
Baker Hughes has reached an agreement to sell its precision sensor product line to Crane Company for $1.15bn, thereby refocusing its operations on core competencies in industrial and energy technologies.
American conglomerate American Electric Power sold 19.9% of two transmission subsidiaries to KKR and PSP Investments, raising $2.82bn to support its five-year $54bn investment plan.
The new mapping by Startup Nation Central identifies 165 active companies in Israel’s energy technologies, amid strong private funding and growing global market interest.
The new CEO of EDF, Bernard Fontana, aims to achieve €1 billion in operational cost savings for the French energy giant by 2030, prioritizing industrial contracts and the national nuclear sector.
CMS Energy Corporation has announced a cash tender offer for debt securities totalling $125 million, issued by Consumers Energy. The offer expires on July 3, 2025, with priority given to bonds submitted before June 17, 2025.
Vermilion Energy is exiting the U.S. market permanently by selling its assets for C$120mn ($87.88mn), refocusing its operations on Canada and Europe while reducing its debt and investment budget.
In 2024, Italian energy giant Eni paid approximately €8.4 billion to various global governments. These payments, primarily concentrated in Africa and Asia, reflect its commitments in the international energy sector.
The International Energy Agency projects a record-high global energy investment in 2025, driven by electricity and low-carbon technologies despite geopolitical and economic uncertainty.
The Czech regulatory authority launches an investigation into suspected collusion involving several major actors in the awarding of a thermal power plant, putting transparency of a strategic transaction for the energy sector at stake.
The Democratic Republic of Congo is set to replace its temporary ban on cobalt hydroxide exports with quotas, aiming to balance global demand, secure revenue, and stabilize market fluctuations.
European Energy secured EUR 145mn in financing from SEB and Swedbank to support wind, solar, and storage assets in Lithuania, reinforcing its regional expansion strategy.