Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

Stellantis contracts Kuniko for battery materials

Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic
Photo Credit: Dado Ruvic Photo Credit: Dado Ruvic

Listen to the article now

Stellantis (STLAM.MI) struck an offtake and equity investment agreement with Australia-listed Kuniko (KNI.AX) to secure a consistent supply of battery materials.

The two businesses announced Friday that the Franco-Italian manufacturer would receive 35% of Kuniko’s future battery-grade nickel and cobalt sulfate production for nine years.
They also said Stellantis would buy 5 million euros ($5.4 million) of Kuniko shares for a 19.99% ownership and the right to choose one board member.

Stellantis funds Kuniko’s Norway nickel, cobalt, and copper battery metals exploration projects.

Stellantis’ Chief Purchasing and Supply Chain Officer Maxime Picat said the world’s third largest carmaker by sales was on an “aggressive path” to obtaining raw materials for electrification.

“With Kuniko, we are adding another lever to support our European battery needs with a local and environmentally conscious solution from its Norwegian projects,” he said.

Since merging Fiat Chrysler and Peugeot maker PSA in early 2021, Stellantis has signed supply agreements for electric vehicle production materials with Alliance Nickel (AXN.AX), McEwen Copper (MUX.TO), Terrafame, Vulcan Energy (VUL.AX), Element 25 (E25.AX), and Controlled Thermal Resources.

The two firms stated the offtake agreement and Kuniko share subscription are subject to regulatory approvals.


Comment Template

You May Also Like

Business

On January 27, 2025, a tech-driven selloff erased $108 billion from the fortunes of the world’s wealthiest, sparked by struggles at AI giant DeepSeek....

Business

Amazon has appointed Whole Foods CEO Jason Buechel to lead its global grocery operations, signaling a bold push to redefine the grocery industry. With...

Business

Amazon is transforming Prime Video to achieve profitability by 2025, focusing on live sports, integrating third-party channels, and diversifying revenue streams. Led by CEO...

Business

Alphabet Inc. reached a major milestone as its shares closed above $200 for the first time, driven by a strong focus on AI innovation...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok