Stellantis to be 2nd Largest Shareholder in Vulcan Energy

Stellantis and Vulcan Energy Resources today announced a Stellantis €50 million (~$76 million) equity investment in Vulcan. There is also an extension of the original binding off-take agreement to 10 years. Stellantis will become second largest shareholder in Vulcan.

The equity investment will go towards Vulcan’s planned production expansion drilling in its producing Upper Rhine Valley Brine Field (URVBF).

Vulcan is already producing geothermal energy from its URVBF and plans to produce lithium hydroxide with zero fossil fuels and net zero carbon footprint as part of the Zero Carbon Lithium Project.

“Making this highly strategic investment in a leading lithium company will help us create a resilient and sustainable value chain for our European electric vehicle battery production,” said Carlos Tavares, Stellantis CEO. “We continue our quest of forming strong relationships with partners who share our values as we collectively fight against global warming and provide clean, safe and affordable mobility to our customers.”

Stellantis has announced plans of reaching 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 United States by 2030. Stellantis will be the industry champion in climate change mitigation, becoming carbon net zero by 2038, with a 50% reduction by 2030.

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