business news

Stellantis, GME ink nickel and cobalt deal for EV battery production

Date: October 11, 2022 Meghna Singh Meghna Singh
Stellantis, GME ink nickel and cobalt deal for EV battery production 
Stellantis N.V., a multinational automotive manufacturing corporation based in Amsterdam, has reportedly signed a non-binding Memorandum of Understanding (MoU) with Australia-based mining firm, GME Resources, for the future sale of battery-grade cobalt and nickel sulfate products from GME’s NiWest Nickel-Cobalt Project in Western Australia.



As per reports, NiWest is a Ni-Co development project that expected to produce about 90,000 tons per annum (tpa) of battery-grade cobalt and nickel sulfate for the booming EV market.



To date, over AUD 30 million have been invested towards development studies, metallurgical test work, and drilling. The location of the processing facility is near the Murrin Murrin site run by Glencore, which is currently the biggest nickel-cobalt operation in the country.



Maxime Picat, Chief Purchasing and Supply Chain Officer, Stellantis, stated that obtaining battery supply and raw material sources will boost the company’s value chain of EV battery production and help in attaining its decarbonization target.



Picat added that the company is working towards delivering clean, safe affordable, cutting-edge freedom of mobility to its customers.



Under Stellantis' Dare Forward 2030 strategic plan, the firm announced plans to achieve a 100% sales mix of passenger car battery electric vehicles (BEV) in Europe and a 50% sales mix of light-duty truck and passenger car BEV in the US by the end of the decade.



Paul Kopejtka, Managing Director, GME, stated that the company is thrilled to sign the MoU with Stellantis and is pleased with how the discussions between the two progressed.



Kopejtka also added that he looks forward to making further progress in their negotiations as well as beginning the Definitive Feasibility Study for NiWest that is scheduled for this month.



Kopejtka further highlighted that a Definitive Agreement will be a key step in progressing the NiWest Project through to commercial operations.



For the record, this is not the first EV battery deal Stellantis has inked this year. The carmaker signed agreements with Controlled Thermal Resources in North America and with Vulcan Energy in Europe to strengthen its low-carbon lithium hydroxide supply earlier this year.



The closure of the deal will be subject to customary closing conditions as well as regulatory approvals.



Source credit: https://www.stellantis.com/en/news/press-releases/2022/october/stellantis-signs-non-binding-mou-with-gme-for-future-offtake-of-battery-grade-nickel-and-cobalt-sulphate

About the author

View All Posts

Meghna Singh

An English Literature graduate, Meghna Singh ventured into the profession of content development to incorporate her knack for writing articles across verticals including technology, healthcare, business, and alike for News Origins and Newsorigins. She has also completed her MBA in Tourism and worked as a content creator in the field of product development.