Stellantis, Terrafame Ink Agreement For Low-Carbon Nickel Sulphate Supply

Stellantis NV STLA has signed a supply agreement with Terrafame Ltd for nickel sulphate to be used in electric vehicle batteries.
Terrafame operates a battery chemicals plant for EV batteries in Finland.
Beginning in 2025, Terrafame will supply Stellantis with nickel sulphate over the five-year term of the agreement.
The agreement is a part of Stellantis’ electrification strategy and will cover a significant portion of the needs for sustainable regionally sourced nickel.
The company had announced plans to reach 100% of passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the U.S. by 2030.
Also Read: Stellantis Inks Battery Materials Supply Deal With Element 25; Plans To Make Equity Investment
“We continue to build a new global value chain with Class A partners to support our global strategy and propel our commitment to be the industry champion in climate change mitigation, becoming carbon net zero by 2038, ahead of our competition,” said CEO Carlos Tavares.
Also Read: Stellantis CEO Warns Of More Plant Closures
Price Action: STLA shares are trading higher by 0.84% at $15.58 in premarket on the last check Wednesday.
Photo Via Company