- In a similar deal earlier this year, Stellantis teamed up with Vulcan to develop geothermal energy projects to help the production of EVs at its Rüsselsheim facility in Germany.
- Stellantis has signed deals with multiple miners to secure critical minerals, including with Vulcan, for which the world’s No. 3 carmaker by sales is now the second largest investor.
Carmaker Stellantis signed a new agreement with Australia-listed lithium supplier Vulcan Energy Resources to help decarbonise its European operations, the two groups said on Wednesday. As global demand for electric vehicle (EV) batteries rises, Stellantis has signed deals with multiple miners to secure critical minerals, including with Vulcan, for which the world’s No. 3 carmaker by sales is now the second largest investor.
The binding agreement announced on Wednesday is for the first phase of a project to develop new geothermal sources contributing to the energy supply of an industrial site in Mulhouse, eastern France, where Stellantis produces several Peugeot and DS models, including the fully-electric Peugeot e-308, the two companies said in a joint statement.
In a similar deal earlier this year, Stellantis teamed up with Vulcan to develop geothermal energy projects to help the production of EVs at its Rüsselsheim facility in Germany. Stellantis Chief Manufacturing Officer Arnaud Deboeuf said: “Geothermal is one of many solutions we are exploring to achieve our carbon net zero goal by 2038.”
The project’s first phase, located in Vulcan’s focus area in the Upper Rhine Valley, will include a study for the construction of geothermal renewable energy assets for the Mulhouse facility and assess the potential for lithium production. They said Stellantis and Vulcan would aim to fund the project development on a 50-50 basis, adding they would also seek public funds for it in France.