Stellantis Makes Major Investment in US Lithium Project
Automaker Stellantis plans to invest over $100 million in California's Controlled Thermal Resources as part of its commitment to the direct lithium extraction (DLE) sector. The investment aims to secure new sources of lithium for electric vehicle batteries amid concerns of potential supply shortages. Stellantis also plans to triple its lithium purchase from Controlled Thermal, with a previous order of 65,000 metric tons annually for at least 10 years starting in 2027. Controlled Thermal intends to spend over $1 billion to extract lithium from geothermal brines, using renewable power to reduce carbon emissions during production. The company aims to obtain final permits by October and begin construction of a commercial lithium plant soon after.