Stellantis Invests $100M In CTR To Boost Decarbonization Drive
Portfolio Pulse from Lekha Gupta
Stellantis NV (NYSE:STLA) has invested over $100 million in Controlled Thermal Resources Holdings Inc. (CTR) to advance the development of the Hell's Kitchen project, a large geothermal lithium project. The investment is part of Stellantis' decarbonization strategy for battery electric vehicle (BEV) supply chains. CTR will start supplying battery-grade lithium hydroxide monohydrate (LHM) to Stellantis in 2027, supporting Stellantis' U.S. product offensive and Dare Forward 2030 plan. Stellantis aims to become a carbon net zero corporation by 2038.
August 17, 2023 | 12:28 pm
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POSITIVE IMPACT
Stellantis' investment in CTR to advance the Hell's Kitchen project is a strategic move towards decarbonization of its BEV supply chains. This could potentially enhance the company's market position and reputation in the long run.
The investment in CTR is a strategic move by Stellantis to advance its decarbonization efforts. This could potentially enhance the company's market position and reputation, especially among environmentally conscious investors and customers. Moreover, securing a supply of battery-grade lithium could support Stellantis' plans for BEV production, which could have a positive impact on its future revenues and profitability.
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