Stellantis and Terrafame Ltd. have signed a supply agreement for nickel sulfate that will be used in batteries for electric vehicles. Starting in 2025, the Finnish company Terrafame will give Stellantis nickel sulfate for the next five years. The partnership is part of Stellantis's ambitious plan to get more people to use electricity. It will also help meet a big part of the demand for nickel from local, sustainable sources.
Carlos Tavares, the CEO of Stellantis, said, "This agreement is part of our search for key raw materials and fits with our need for battery packs for electric vehicles." "We continue to build a new global value chain with great partners to support our global strategy and our 'drive commitment' as an industry leader in climate action." We will reach net-zero carbon emissions by 2038, a few years earlier than our competitors.
As part of its Dare Forward 2030 strategic plan, Stellantis said it would sell 100% battery-electric passenger vehicles (BEVs) in Europe and 50% of passenger and commercial vehicles in the United States by 2030. Stellantis plans to put more than 30 billion euros into electrification and software development by 2025. This is so it can offer its customers clean, safe, and affordable transportation. At the same time, the company wants to keep spending 30 percent less on R&D and capital than the rest of the industry as a percentage of sales.
Terrafame runs one of Finland's largest chemical plants for making batteries for electric vehicles. Terrafame's production is easy to track because it starts at its mine and ends with battery chemicals at an industrial site, which is all part of a single, integrated process.
Terrafame's unique production process means that the nickel sulfate's carbon footprint is one of the smallest in the industry.
Joni Lukkaroinen, CEO of Terrafame, said, "Working with industry leaders like Stellantis strengthens Terrafame's position as a key partner for battery chemicals in the European automotive industry." " In these hard times, it's clear that there is a strong demand for battery chemicals made in Europe that are made in a way that is transparent and good for the environment. We are proud to do our part to reduce carbon emissions and improve the efficiency of the European auto industry."