Stellantis Invests $100M in CTR to Strengthen Low Emissions US Lithium Production

Stellantis N.V. has announced an investment of over $100 million in Controlled Thermal Resources Holdings Inc. (CTR) to advance the development of CTR’s Hell’s Kitchen project, the world’s largest geothermal lithium project. The facility in California’s Imperial County will recover lithium from geothermal brines using renewable energy and steam to produce truly 'green' battery-grade lithium products in a fully integrated process.

This eliminates the need for evaporation brine ponds, open pit mines and fossil-fueled lithium processing.

The project will have a total resource capacity to produce up to 300,000 metric tons of lithium carbonate equivalent each year.

Lithium produced at Hell’s Kitchen will also support Stellantis vehicles’ BEV eligibility for consumer incentives under the U.S. Inflation Reduction Act (IRA).

Additionally, the companies expanded the initial supply agreement, which now calls for CTR to supply up to 65,000 metric tons of battery-grade lithium hydroxide monohydrate (LHM) each year over a 10-year contract term. 

CTR is scheduled to commence battery-grade lithium hydroxide monohydrate supply for Stellantis in 2027. 

Stellantis CEO, Carlos Tavares, says: “The foundation of our industry-leading decarbonization drive includes low-emissions production and sustainable supply as the building blocks for our electric vehicles. The latest agreement with CTR is an important step in our care for our customers and our planet as we work to provide clean, safe and affordable mobility in North America.”

“This substantial investment in CTR by Stellantis marks an outstanding milestone for our company and further solidifies our efforts to support sustainable electric vehicle battery production,” CTR Chief Executive Officer, Rod Colwell, adds. “With electric vehicle adoption growing rapidly in the U.S. and throughout the world, it has never been more important to ensure battery materials are sourced and produced responsibly. Through localizing the battery supply chain, we can minimize supply chain risk and create thousands of jobs in a disadvantaged community. We applaud the leadership of Stellantis and look forward to working together to set new industry benchmarks for reliability, efficiency, and sustainability.”

Stellantis plans to reach a 100% passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the US by 2030.