Argentina Lithium announces key US$90 million investment from automaker Stellantis

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[{"type":"text","content":"Argentina Lithium announces key US$90 million investment from automaker Stellantis\n \n \n (NewsDirect)\n \n \n \n \n Argentina Lithium and Energy CEO Niko\nCacos joined Steve Darling from Proactive to share significant news\nthat the company has secured US$90 million in funding through a\nstrategic agreement with, Stellantis, one of the world's largest\nautomakers, known for its major brands such as Alfa Romeo, Chrysler,\nDodge, Fiat, Jeep, Peugeot, and RAM.\n \n \n Under this agreement, Stellantis will acquire a 19.9% stake in\nArgentina Litio y Energia, leaving the company with 80.1% ownership.\n \n \n The cornerstone of this partnership\nis an offtake agreement, with Stellantis committing to purchase up to\n15,000 tonnes per annum of lithium produced by Argentina Lithium over\na seven-year period. This offtake agreement may potentially be\nextended beyond the initial seven-year period.\n \n \n It's important to note that the\ncommencement of the supply obligation by Argentina Lithium is\ncontingent upon the successful launch of commercial production at one\nor more of its projects.\n \n \n This\ncollaboration with Stellantis not only provides Argentina Lithium with\nsubstantial funding but also establishes a long-term partnership with\na major player in the automotive industry.\n \n \n It underscores the growing demand for\nlithium as a key component in electric vehicle batteries and positions\nArgentina Lithium as a significant contributor to the supply chain of\nlithium, a critical resource for the rapidly expanding electric\nvehicle market.\n \n \n \n Contact Details\n \n \n \n Proactive\nInvestors\n \n \n +1 604-688-8158\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2257,"tagName":"div"}]

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