(News Bulletin 247) – Stellantis announced on Friday that it will invest in the Australian-Norwegian company Kuniko in order to secure its supply of low-carbon nickel cobalt sulphate.

The automotive giant, which notably owns the Chrysler, Citroën and Fiat brands, has agreed to invest five million euros in the purchase of shares in the company, giving it a 19.99% stake.

The manufacturer specifies that it will have the right to appoint a director to the Kuniko board of directors.

This acquisition of a minority stake was accompanied by the signing of a binding agreement concerning the supply of nickel sulphate and cobalt.

The nine-year contract is to cover 35% of future production from Kuniko’s Norwegian projects.

The funds provided by Stellantis are to be used precisely to allow Kuniko to advance its work in prospecting for metals in Norway, including nickel, cobalt and copper.

In a press release, Stellantis indicates that it is in the process of setting up a European pole dedicated to the supply of materials for batteries in order to be able to achieve its objectives in electrification.

For the record, the group plans to reach 100% of battery electric vehicle (BEV) sales for passenger cars in Europe by 2030.

In addition to its agreement with Kuniko, Stellantis has recently concluded several agreements with players in the sector, including Alliance Nickel, Vulcan Energy or Element 25.

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