Stellantis announced it has signed a non-binding preliminary agreement with mining company GME Resources to provide nickel and cobalt sulfate for EV batteries.
Stellantis has an aggressive electrification goal; it wants 100% of European sales and 50% of U.S. sales to be electric by 2030. Reuters reported the company formed the initial agreement with GME Resources to achieve this.
GME Resources is currently planning to open its NiWest facility in Western Australia, which aims to produce 90,000 tons of material annually, some of which Stellantis would like to use in its numerous vehicles.
While this is a very early step in a deal between the two companies, with no financial or material tonnage numbers being revealed, it follows a positive trend for the auto group. Stellantis has already made a significant deal to secure lithium from Vulcan Energy. Stellantis executives made it clear they hope an agreement with GME can foster a long-term relationship.
These deals follow numerous Stellantis brands announcing new EV models for the upcoming years.
Jeep, Stellantis’ leading American brand, just recently unveiled its electric vehicles coming to North America and Europe, while even Maserati---a notoriously anti-EV brand---has introduced its first electric offering, the Maserati GranTurismo.
What remains unclear is how the auto group’s many European brands will be dealing with the current European energy crisis and the inflationary pressures hurting many of the continent’s currencies. This deal may be the glimmer of hope the company needs to make it through the upcoming winter.
