Stellantis In Deal With Australia's Element 25 For Manganese Sulphate Supply For EV Batteries

(RTTNews) - Automaker and mobility provider Stellantis (STLA) Monday said it has signed a binding agreement, under which Australia's Element 25 Ltd. will supply battery grade, high purity manganese sulphate monohydrate for use in electric vehicle or EV battery packs.

Stellantis also said it will make an equity investment in Element 25.

Element 25 shares gained around 15 percent in Australian trading to close at A$1.10.

The five-year deal calls for shipments to begin in 2026, a total volume of 45 kilotons, and options to extend the supply term and volumes.

The company noted that Element 25 will source the material from its Butcherbird project in Western Australia and plans to construct a processing facility in the United States.

As part of its Dare Forward 2030 strategic plan, Stellantis plans to invest more than 30 billion euros through 2025 in its electrification and software development.