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Stellantis, Vulcan Energy to develop renewable energy assets in Germany

(Reuters) - Automaker Stellantis has teamed up with lithium group Vulcan Energy Resources to develop geothermal energy projects in Germany to help decarbonise production of...
Stellantis, Vulcan Energy to develop renewable energy assets in Germany © Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes

(Reuters) - Automaker Stellantis has teamed up with lithium group Vulcan Energy Resources to develop geothermal energy projects in Germany to help decarbonise production of electric vehicles at Rüsselsheim, the two companies said on Tuesday.

Stellantis' Rüsselsheim facility is where the world's third largest carmaker by sales produces its DS 4 and Opel Astra models.

"Stellantis and Vulcan will aim to produce clean electricity and supply it to the grid for both internal and external consumption, in accordance with Germany's Renewable Energy Act (EEG), while also producing heat to be transferred to Stellantis' manufacturing site, the two firms said in a statement.

War in Ukraine has tightened Europe's energy supply, causing uncertainty for manufacturers already suffering from strained supply chains for raw materials and components such as semiconductors.

Australia-based Vulcan initially will carry out a pre-feasibility study for the development of energy projects.

The two firms together will seek public funding opportunities for it while Stellantis, which holds an 8% stake in Vulcan, will aim to source funding for 50% of the project's development.

Stellantis CEO Carlos Tavares said the partnership with Vulcan reinforced the group's commitment to greater use of clean

energy.

"It is one of many actions we've taken to drive results, impact, and sustainability," he said.

The carmaker, formed two years ago through the merger of Fiat Chrysler and Peugeot (OTC:PUGOY) maker PSA, already has a deal with Vulcan for lithium supply from the miner's project in the Upper Rhine Valley in Germany.

Extending its network of direct deals with raw material suppliers for EV batteries, Stellantis last week signed a contract with Australian miner Element 25 for manganese sulphite.

It previously announced agreements with GME Resources on nickel and cobalt sulphate and with U.S.-based Controlled Thermal Resources (CTR) for lithium hydroxide.

Stellantis wants battery electric vehicles to account for 100% of its European passenger car sales and 50% of its U.S. passenger car and light-duty truck sales by 2030.

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29-01-2023 23:41:33 (UTC+7)

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    EUR/USD 1.0869 ↑ Buy  
    GBP/USD 1.2399 ↑ Buy  
    USD/JPY 129.85 Buy  
    AUD/USD 0.7108 ↑ Sell  
    USD/CAD 1.3311 Neutral  
    EUR/JPY 141.14 ↑ Buy  
    EUR/CHF 1.0015 ↑ Buy  
    Gold 1,928.00 ↑ Sell  
    Silver 23.725 ↑ Buy  
    Copper 4.2300 ↑ Buy  
    Crude Oil WTI 79.38 ↑ Sell  
    Brent Oil 86.40 ↑ Sell  
    Natural Gas 2.856 ↑ Sell  
    US Coffee C 169.25 Sell  
    Euro Stoxx 50 4,178.01 ↑ Buy  
    S&P 500 4,070.56 ↑ Sell  
    DAX 15,150.03 ↑ Buy  
    FTSE 100 7,765.15 ↑ Buy  
    Hang Seng 22,688.90 Buy  
    Small Cap 2000 1,911.46 ↑ Sell  
    IBEX 35 9,060.20 ↑ Buy  
    BASF 52.790 ↑ Buy  
    Bayer 56.28 ↑ Buy  
    Allianz 221.65 ↑ Buy  
    Adidas 148.30 Sell  
    Lufthansa 9.755 ↑ Buy  
    Siemens AG 144.50 ↑ Buy  
    Deutsche Bank AG 12.340 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,720/ 6,820
(6,720/ 6,820) # 1,331
SJC HCM6,720/ 6,820
(-20/ -20) # 1,331
SJC Hanoi6,720/ 6,822
(-20/ -20) # 1,333
SJC Danang6,720/ 6,822
(-20/ -20) # 1,333
SJC Nhatrang6,720/ 6,822
(-20/ -20) # 1,333
SJC Cantho6,720/ 6,822
(-20/ -20) # 1,333
Cập nhật 29-01-2023 23:41:35
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$1,927.97 -2.61 -0.13%
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E5 RON 92-II21.35021.770
DO 0.05S21.63022.060
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Brent $86.08 0 0%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.260,0023.630,00
EUR24.857,5526.249,47
GBP28.270,1829.475,66
JPY175,71186,02
KRW16,4320,02
Cập nhật lúc 18:54:06 29/01/2023
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