Stellantis, formed in 2021 through the merger between France’s PSA and Fiat Chrysler, said in March it would have 75 EV models on the market and sell 5 million EVs a year by 2030.
The company has also said it expects a shortage of EV batteries to hit the auto industry in 2024-2025 as manufacturers try to ramp up EV sales while building new battery factories.
“Ensuring we have a robust, competitive, and low-carbon lithium supply from various partners around the world will enable us to meet our aggressive electric vehicle production plans in a responsible manner,” CEO Carlos Tavares said in a statement.
CTR will produce battery grade lithium hydroxide and lithium carbonate along with geothermal energy in Imperial County, Calif., with a resource production capacity in excess of 300,000 metric tons per year.