Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


PARIS (Reuters) -Carmaker Stellantis has signed a non-binding preliminary agreement with GME Resources to secure supplies of nickel and cobalt sulphate for electric vehicle (EV) batteries, the two companies said on Monday.

The deal marks a further move by the world’s fourth largest carmaker to lock down supplies of metals needed for batteries that power EV cars, ahead of an expected surge in global demand as a transition towards cleaner mobility gains traction.

Earlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources and said it would invest 50 million euros ($48.6 million)to buy an 8% stake in it.

Stellantis and the GME mining company said in a statement on Monday that the memorandum “represents the first step toward a potential long-term partnership,.

Financial details were not disclosed.

The supply will come from a nickel and cobalt advanced mining project in Western Australia called “NiWest”, which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate.

A feasibility study for NiWest is due to start this month, the companies said.

Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat said that securing the raw material sources and battery supply would strengthen the group’s value chain for EV production and support its decarbonisation target.

Stellantis, the owner of brands including Jeep, Peugeot, Fiat, Citroen, Maserati and Opel, has pledged to make up 100% of its sales in Europe and 50% of its sales in the U.S. from battery electric vehicles by 2030.

($1 = 1.0286 euros)

(Reporting by Tassilo Hummel in Paris and Giulio Piovaccari in Milan;Editing by Sudip Kar-Gupta and Louise Heavens)


Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts