VUL megathread, page-5366

Factbox-Automakers Accelerate Drive to Secure Battery Raw Materials

https://money.usnews.com/investing/news/articles/2022-10-10/factbox-automakers-accelerate-drive-to-secure-battery-raw-materials

Oct 10, 2021 (Reuters) - Rising demand for electric vehicles (EV) around the world is encouraging automakers such as Tesla Inc, Volkswagen and Stellantis NV to step up efforts to secure raw materials needed for making batteries.Following are some of the deals major automakers have announced with suppliers and miners:

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VOLKSWAGEN:

26-Sept-2022 – Volkswagen announced a $2.9 billion battery parts joint venture with Belgian materials firm Umicore, becoming the latest European automaker to bring battery supplies closer to home in the shift towards electric vehicles

23-Aug-2022 - Volkswagen intensified efforts to secure access to key battery materials lithium, nickel and cobalt by striking a cooperation agreement with top supplier Canada. No financial details were disclosed.

08-Dec-2021 - Vulcan Energy Resources will provide lithium hydroxide for five years starting 2026. Vulcan extracts lithium from geothermal sources in Germany's Upper Rhine Valley region.

08-Dec-2021 - Belgium's Umicore will supply cathode materials for Volkswagen's European battery cell factories under a joint venture. It will start production in 2025 with 20 gigawatt hours for the carmaker's plant in Salzgitter, Germany.

STELLANTIS:

10-Oct-2022 - Carmaker Stellantis has signed a non-binding preliminary agreement with GME Resources to secure supplies of nickel and cobalt sulphate for electric vehicle batteries.

24-June-2022 - Stellantis will invest 50 million euros ($50.3 million) to buy an 8% stake in German-Australian start-up miner Vulcan, becoming its second largest shareholder and extending a lithium supply agreement to 10 years.

2-June-2022 - Controlled Thermal Resources will supply up to 25,000 metric tons per year of lithium hydroxide over 10 years from a project in California.

29-Nov-2021 - Preliminary deal with Vulcan for lithium produced using geothermal energy from Germany. Over five years starting in 2026, Vulcan will supply 81,000-99,000 tonnes of battery-grade lithium hydroxide.

RENAULT:

1-June-2022 - Moroccan miner Managem will supply 5,000 tonnes of low carbon cobalt sulphate under a seven-year deal starting from 2025.

21-Nov-2021 - Vulcan will supply 26,000-32,000 metric tonnes of battery-grade lithium chemicals for initial six years starting 2026.

08-Oct-2021 - MoU with Finnish nickel and cobalt miner Terrafame to supply nickel sulphate. Quantities and timeline not disclosed.

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