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Stellantis NV (NYSE:STLA), alongside Australian miner Element 25 (ASX:E25), announced Monday that the two companies have signed a deal for the supply of manganese sulfate for batteries for electric vehicles (EV).
The agreement marks another step in efforts by Stellantis to secure long-term supplies of raw materials essential for electric vehicles. Stellantis has previously signed deals with GME Resources for supply of nickel and cobalt sulphate and with Vulcan Energy Resources and United States-based Controlled Thermal Resources (CTR) for lithium hydroxide.
Based on the five-year agreement, Element 25 will supply Stellantis with high-purity manganese sulphate monohydrate. Shipments, for a total of 45 kilotons, are expected to begin in 2026, with options to extend term and volumes. No financial details for the deal were provided.
“Our commitment to a carbon net-zero future includes creation of a smart supply chain to ensure we meet our customers’ desire for EVs,” Stellantis CEO Carlos Tavares said.
Shares of STLA are up 0.71% in pre-market trading on Monday.
