Jeep maker Stellantis NV said Friday that it is teaming up with Australia's Alliance Nickel Ltd. to secure battery-grade nickel and cobalt sulphate and that it will take a 11.5% stake in the mining company.
The European car maker, which also owns Chrysler, Dodge and Ram, said it signed a so-called offtake agreement with Alliance Nickel under which the mining company will supply 170,000 tons of nickel sulphate and 12,000 tons of cobalt sulphate over a five-year period initially from its NiWest project in Western Australia. Copper And Nickel
Stellantis said it will also acquire a 11.5% shareholding in new equity in Alliance Nickel for 9.2 million euros ($10.1 million).
The car maker said the agreement supports the 2030 targets it set out in its strategic plan.
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