For the implementation of its electrification project, the Stellantis Group is signing various cooperation agreements. Let’s think, for example, about partnerships that will allow Stellantis to have sufficient stocks of raw materials for the production of batteries. Now the automotive group has announced investment 155 million dollars in a project in Argentina.
Stellantis decided to purchase one 14.2% stake in McEwen Coppera subsidiary of the Canadian mining company McEwen Mining, which owns the project Los Azules in Argentina and the Elder Creek project in Nevada, USA.
The Los Azules site in Argentina plans to produce 100,000 tonnes of 99.9% pure copper cathodes per year starting in 2027, with a reserve capable of guaranteeing operation for at least 33 years. Copper is the raw material very important for electric vehicles, and global demand for this conductive metal is estimated to triple in the coming years.
With this new investment, Stellantis will be able to satisfy part of the demand for copper expected from 2027. This new project is part of strategic plan Dare Forward 2030. By 2030, the Group aims to reach 100% of battery electric vehicle (BEV) sales in Europe and 50% of BEV passenger car and light commercial vehicle sales in the US. In Brazil, the goal is to reach 20% of low emission vehicle (LEV) sales by the end of the decade. Carlos TavaresCEO of Stellantis, commented:
Stellantis is committed to leading the sector with a commitment to zero carbon emissions by 2038, which requires innovation and a complete rethinking of the entire business. We are taking important steps in Argentina and Brazil to decarbonize mobility and secure the strategic supply of raw materials needed for the success of the company’s global electrification programs.
Source: HD Motori
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