Stellantis N.V. and Terrafame Ltd. announced today the signing of a supply agreement for nickel sulphate to be used in electric vehicle (EV) batteries. Beginning in 2025, Finland-based Terrafame will supply Stellantis with nickel sulphate over the five-year term of the agreement. The Terrafame agreement is a part of Stellantis’ aggressive electrification strategy and will cover a significant portion of the needs for sustainable regionally sourced nickel.
“This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack needs,” said Stellantis CEO Carlos Tavares. “We continue to build a new global value chain with Class A partners to support our global strategy and propel our commitment to be the industry champion in climate change mitigation, becoming carbon net zero by 2038, ahead of our competition.”
As part of its Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. To offer a clean, safe and affordable mobility for its customers, Stellantis plans to invest more than €30 billion through 2025 in electrification and software development, while targeting to be 30 percent more efficient than the industry with respect to total Capex and R&D spend versus revenues.
Terrafame operates one of the world’s largest battery chemicals plants for EV batteries in Finland. With an integrated production process beginning in its own mine and ending with battery chemicals on one industrial site, Terrafame’s production is fully traceable. Furthermore, due to the unique production technology, the carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.
“Cooperation with industry leaders such as Stellantis fortifies the position of Terrafame as an important partner of battery chemicals for the European automotive industry,” said Terrafame CEO Joni Lukkaroinen. “In these challenging times, there clearly is a strong demand for sustainably and transparently produced battery chemicals that are made in Europe, for Europe. We are proud to be doing our part in decarbonizing European mobility and increasing the efficiencies of the European automotive industry.”