Carmaker Stellantis secures supply of battery-grade lithium

MILAN (AP) — The carmaker Stellantis says it’s secured a five-year supply of battery-grade lithium hydroxide in Europe supporting its plans to convert to 98% electrified vehicles by 2025. The car company that combined PSA Peugeot and Fiat Chrysler said Monday that is signed a binding agreement with Vulcan Energy Resources Ltd. in Germany. It uses geothermal energy to produce the battery-quality lithium hydroxide from brine without using fossil fuels. Vulcan will supply between 81,000 metric tons and 99,000 metric tons of lithium hydroxide over the five-year term of the agreement. All top automakers are working on electric vehicles as fears grow about climate change.