Stellantis N.V. has unveiled its first electric vehicle (EV) platform designed for medium cars while also signing a deal for rare earth elements as the automotive original equipment manufacturer (OEM) pushes further into electrification.
Called the STLA Medium, the battery EV design platform is designed to create vehicles with a range of 435 miles, energy efficiency, embedded power and charging power. The platform is designed for different configurations in the C- and D- segments, which accounted for 35 million sales in 2022.
Stellantis said up to two million vehicles per year can be built on the STLA Medium platform in several plants across the world, starting in Europe this year.
The STLA Medium is one of four global EV platforms that Stellantis will be introducing as part of its strategic plan to reach 100% passenger car battery EV sales in Europe and 50% passenger car and truck sales in the U.S. by 2030.
Rare Earth deal
Meanwhile, Stellantis continues to invest in battery materials and rare earth elements to secure supplies of these technologies to meet what it believes will be future demand in the automotive industry.
The company signed a rare earth supply agreement with NioCorp Developments Ltd. to support Stellantis’ goal to build resilient supply chains and reach carbon net zero by 2038. The agreement will also accelerate NioCorp’s path to commercial production of magnetic rare Earth oxides.
The 10-year offtake contract calls for the supply of specific amounts of:
- Neodymium-praseodymium oxide
- Dysprosium oxide
- Terbium oxide
NioCorp aims to produce these elements at its Elk Creek Critical Minerals Project in southeast Nebraska. Final volumes would be set in a definitive agreement.
Why these elements? Stellantis is betting that these will be economically viable in the future and used to help with its march toward net carbon zero.
“We are very pleased to announce that NioCorp and Stellantis have agreed to collaboratively develop Stellantis’ magnetic rare Earth supply chain, including helping to identify a sintered rare earth permanent magnet manufacturer that provides additional geographic optionality to Stellantis, in support of their ambitious commitment to reach carbon net zero by 2038,” said Mark Smith, executive chairman and CEO of NioCorp. “We believe that NioCorp’s position as a potential U.S. supplier of multiple critical minerals needed for vehicle electrification offers Stellantis important optionality to secure supply chains and support its growth targets.”
Previously, Stellantis signed an agreement with Lyten to accelerate the development of its 3D graphene used in lithium-sulfur EV batteries. This technology could be used to enhance vehicle battery performance while reducing greenhouse gas emissions.
Both of these deals continue the growing relationships forming between automotive OEMs and battery and raw material vendors as the automotive sector conducts its largest transition in its history to electrification. The move follows Ford’s flood of moves to make deals with raw material vendors to secure supplies of lithium for its EVs and General Motors making significant investments to secure its own supply in EnergyX and Lithium Americas Corp.
