Stellantis Invests Over $100M In Controlled Thermal Resources (CTR) To Advance Development Of Geothermal Lithium Project
Portfolio Pulse from Benzinga Newsdesk
Stellantis (STLA) has invested over $100M in Controlled Thermal Resources (CTR) to advance the development of a geothermal lithium project. CTR is expected to start supplying battery-grade lithium hydroxide monohydrate to Stellantis in 2027. The project is expected to create 480 construction jobs and 940 direct project jobs when fully developed.
August 17, 2023 | 10:12 am
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Stellantis's investment in CTR's geothermal lithium project could secure its lithium supply for future electric vehicle production. However, the benefits will not materialize until 2027.
Stellantis's investment in CTR's lithium project is a strategic move to secure its lithium supply, a key component for electric vehicle batteries. This could give Stellantis a competitive edge in the EV market. However, the impact on the stock price may not be immediate as the benefits will not materialize until 2027.
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