(via TheNewswire)
According to the terms of the deal, Stellantis willstrategically invest USD
Resource and tech companies like to talk about inflows of “smart money”. But the “smart money” often exits before the retail investors. For Stellantis, there is only one winning position from its
LIT is developing a number of high-quality lithium projects in
The deal will give Argentina Lithium the financial resources to accelerate the development of its lithium assets, while providing Stellantis with up to 15,000 tonnes of lithium per annum, for a 7-year period when LIT becomes a lithium producer.
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Stellantis, one of the world's largest automakers, is known for its major brands such as Abarth, Alfa Romeo, Chrysler, Citroën, Dodge,
STLA has a sprawling global footprint, with operations in
Stellantis booked explosive 41% y-o-y growth in Battery Electric Vehicles (BEV). Unlike hybrids, BEVs are powered exclusively by a battery-operated electric motor, which is charged via the power grid.
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A typical EV battery has about 8 kilograms of lithium,”states EVbox.“Although this can often be much more depending on the battery size.”
"We are delighted to have Stellantis as a partner in the future development of our lithium projects in Argentina,” stated LIT President & CEO
On
“The
“We have four exploration projects, all located in
“With this
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Stellantis has a track record of making savvy upstream investments.
On
“Stellantis has emerged as the world’s fourth-largest car company by sales, ahead of
“But the company is more diverse than its two rivals, which generate nearly all of their profits in North America,” continued the WSJ. “It has established European brands, such as Peugeot and Opel, and a strong presence in South America”.
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The price of lithium products sold by ALE under the Offtake Agreement will be based on an agreed market-based price formula at the time of each shipment.
LIT is part of the
“Having a partner like Stellantis validates the projects and the work that we've been doing,” confirmed Cacos, “I'm very proud to have an organization of that stature alongside a junior exploration company like Argentina Lithium”.
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