AMSTERDAM - Stellantis N.V. (NYSE:STLA), a global automaker, has announced an investment in Tiamat, a French company specializing in sodium-ion battery technology, through its corporate venture fund Stellantis Ventures. The move aligns with the company's Dare Forward 2030 strategic plan, aiming for a carbon net zero future by 2038.
The investment in Tiamat is seen as a strategic step towards diversifying Stellantis' battery technology portfolio, with sodium-ion batteries offering a promising alternative to the prevalent lithium-ion batteries. Sodium-ion batteries are not only potentially more cost-effective but also do not rely on lithium and cobalt, making the technology more sustainable and less reliant on scarce resources.
Tiamat, a spin-off from the French National Centre for Scientific Research (CNRS), has the distinction of being the first to commercialize sodium-ion technology in an electrified product. The funds from this investment round, which includes Stellantis Ventures, will be used to initiate the construction of a sodium-ion battery plant in France. The initial focus will be on power tools and stationary storage applications, with plans to scale up for battery electric vehicle (BEV) applications later.
Stellantis' commitment to electrification is underscored by its goal to achieve a 100% passenger car BEV sales mix in Europe and a 50% mix in the United States for passenger cars and light-duty trucks by 2030. To support these targets, the automaker is securing approximately 400 GWh of battery capacity and has already established supply agreements for EV raw materials through 2027.
In addition to sodium-ion technology, Stellantis is exploring other energy storage solutions, including investments in solid-state batteries with Factorial Energy and lithium-sulfur chemistry with Lyten Inc. The company's broad approach to innovation in battery technology is part of its broader strategy to offer clean, safe, and affordable mobility.
This investment news is based on a press release statement from Stellantis N.V.
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