Carmaker Stellantis secures lithium battery supply

MILAN (AP) – Carmaker Stellantis says it has secured a five-year supply of lithium hydroxide batteries in Europe, supporting its plan to transition to 98 percent electric vehicles by 2025. PSA Peugeot and Fiat Chrysler Automobiles said on Monday that it has entered into a binding agreement with Vulcan Energy Resources Ltd. in Germany. It uses geothermal energy to produce lithium hydroxide batteries from salt water without the use of fossil fuels. Vulcan will supply between 81,000 tonnes and 99,000 tonnes of lithium hydroxide over the five-year term of the agreement. All the leading automakers are working on electric vehicles as concerns about climate change grow.