Been following for a few years, I did NOT expect Stellantis and PowerCo (Volkswagen) to be the first two major offtake agreements.
Interesting that it is OEMs that are looking upstream themselves with more urgency than the battery producers. Not sure what this might suggest.
Agree with others that this indicates to me they are trying to secure the loan before change of administration in a few months. Only disappointment is no pre-payment or investment from either entity which would be the ultimate validation that Novonix will get to where they are aspiring. That said, I think they are bloody close.
NVX Price at posting:
74.0¢ Sentiment: Hold Disclosure: Held
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