Stellantis announces an investment of more than $100 million in a low-emission geothermal lithium project in California developed by Controlled Thermal Resources Holdings (Ctr), a U.S. company active in lithium battery chemicals and renewable energy production.

Through the agreement, Ctr has committed to supplying up to 65,000 tons of battery-grade lithium hydroxide per year over a 10-year period, up from the 25,000 tons under last year's contract, says a note.

By using the lithium produced by Ctr's 'Hell's Kitchen' project for its battery electric vehicles (Bevs), Stellantis will be able to access incentives under the U.S. Inflation Reduction Act (Ira), the release specifies.

The availability of sustainable lithium hydroxide will support Stellantis' production capacity in the U.S. and the achievement of its Dare Forward 2030 plan goals of bringing more than 25 new Bev vehicle models to market and covering 50 percent of the sales mix with these cars by 2030.

(Andrea Mandalà, editing Sabina Suzzi)