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Stellantis and Terrafame Agree on Low-Carbon Nickel Sulphate Supply for Electric Vehicle Batteries

STELLANTIS N.V
STELLANTIS N.V

Stellantis and Terrafame Agree on Low-Carbon Nickel Sulphate Supply for Electric Vehicle Batteries

  • Stellantis strengthens value chain for electric vehicle battery production supporting Dare Forward 2030 strategic plan targets

  • Partnership strengthens the role of Terrafame as a recognized supplier of sustainable electric vehicle production

  • Partnership marks a concrete step towards a well-structured, transparent, and sustainable European battery cluster to fulfill Stellantis’ needs

AMSTERDAM, January 18, 2023 – Stellantis N.V. and Terrafame Ltd. announced today the signing of a supply agreement for nickel sulphate to be used in electric vehicle (EV) batteries. Beginning in 2025, Finland-based Terrafame will supply Stellantis with nickel sulphate over the five-year term of the agreement. The Terrafame agreement is a part of Stellantis’ aggressive electrification strategy and will cover a significant portion of the needs for sustainable regionally sourced nickel.

“This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack needs,” said Stellantis CEO Carlos Tavares. “We continue to build a new global value chain with Class A partners to support our global strategy and propel our commitment to be the industry champion in climate change mitigation, becoming carbon net zero by 2038, ahead of our competition.”

As part of its Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger car battery electric vehicle (BEV) sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. To offer a clean, safe and affordable mobility for its customers, Stellantis plans to invest more than €30 billion through 2025 in electrification and software development, while targeting to be 30 percent more efficient than the industry with respect to total Capex and R&D spend versus revenues.

Terrafame operates one of the world’s largest battery chemicals plants for EV batteries in Finland. With an integrated production process beginning in its own mine and ending with battery chemicals on one industrial site, Terrafame’s production is fully traceable. Furthermore, due to the unique production technology, the carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.

“Cooperation with industry leaders such as Stellantis fortifies the position of Terrafame as an important partner of battery chemicals for the European automotive industry,” said Terrafame CEO Joni Lukkaroinen. “In these challenging times, there clearly is a strong demand for sustainably and transparently produced battery chemicals that are made in Europe, for Europe. We are proud to be doing our part in decarbonizing European mobility and increasing the efficiencies of the European automotive industry.”

# # #

About Stellantis
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

About Terrafame Ltd
Terrafame enhances low-carbon mobility by delivering responsibly produced battery chemicals to the global battery industry. One of the world’s largest production lines for chemicals used in electric car batteries is located on Terrafame’s industrial site. The plant is capable of producing nickel sulphate for around 1 million electric cars per year. The carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.

Terrafame’s integrated, unique and energy-efficient production process from the mine to battery chemicals is located on a single industrial site. It provides customers with a transparent, traceable and truly European battery chemical supply chain.

Terrafame Ltd was founded in 2015. Its net sales in 2021 were EUR 378 million. Around 1,500 people work on its industrial site, half of whom are employees of partner companies.

Contacts:

Stellantis

Fernão Silveira
Global Communications / Stellantis
+31 6 43 25 43 41
fernao.silveira@stellantis.com

Valérie Gillot
+33 6 83 92 92 96
valerie.gillot@stellantis.com

communications@stellantis.com
www.stellantis.com

Terrafame Ltd.

Joni Lukkaroinen
CEO
Tuhkakylä, Finland
+358 20 713 0890
joni.lukkaroinen@terrafame.fi

Veli-Matti Hilla
Chief Sustainability Officer
Tuhkakylä, Finland
+358 40 569 9906
veli-matti.hilla@terrafame.fi

press@terrafame.fi
+358 20 7130 800

STELLANTIS FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis’ ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis’ business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.

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