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Stellantis investment makes it 2nd largest shareholder in lithium supplier

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The Detroit News

Jeep maker Stellantis NV is investing nearly $53 million (50 million euro) into its European lithium partner in an effort to create a reliable supply chain of the critical mineral for electric-vehicle batteries. The equity investment in Vulcan Energy Resources Ltd. makes the automaker Vulcan’s second largest shareholder with 8% ownership. The deal also extends its agreement announced in November with the Australia-based miner to 10 years from five. This comes after Stellantis CEO Carlos Tavares has warned about the potential for battery shortages later this decade as global productions of EVs …

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