Stellantis has teamed up with lithium group Vulcan Energy Resources to develop geothermal energy projects in Germany to help decarbonize production of vehicles at Rüsselsheim.
“Stellantis and Vulcan will aim to produce clean electricity and supply it to the grid for both internal and external consumption, in accordance with Germany’s Renewable Energy Act (EEG), while also producing heat to be transferred to Stellantis’ manufacturing site.
War in Ukraine has tightened Europe’s energy supply, causing uncertainty for manufacturers already suffering from strained supply chains for raw materials and components such as semiconductors.
Australia-based Vulcan initially will carry out a pre-feasibility study for the development of energy projects.
The two companies together will seek public funding opportunities for it while Stellantis, which holds an 8 percent stake in Vulcan, will aim to source funding for 50 percent of the project’s development.
Stellantis wants battery electric vehicles to account for 100 percent of its European passenger car sales and 50 percent of its U.S. passenger car and light-duty truck sales by 2030.