Stellantis Acquires Argentina Lithium Shares To Guarantee Supply

Stellantis, the automotive holding company created in 2021 by the merger of Fiat Chrysler Automobiles and PSA (Peugeot Joint Stock Company), has invested $90 million in the Argentine company Lithium & Energy. The operation resulted in obtaining 19.9% of the group’s shares. The acquisition has a clear strategic goal: to guarantee lithium supplies in the amount of 15 thousand tons per year; the precious raw materials will be used to develop electrification projects for the Stellantis range.

According to Argentina Lithium & Energy, the operation went through the Argentine subsidiary of Peugeot Citroen, which invested $90 million.

“I am pleased to have Stellantis as a partner in the future development of our lithium projects in Argentina,” said Argentina Lithium President and CEO Nikolaos Cacos. “Together we share a vision for building a sustainable lithium mining business for the future. We are counting on a strong and successful relationship with Stellantis and are committed to providing an environmentally friendly product that will contribute to the electrification of transportation and the protection of our atmosphere.”

The transaction is expected to officially close on October 4, 2023.