Global automobile giant Stellantis & Vulcan Energy Resources have announced Stellantis’ EUR 50 million equity investments in Vulcan and an extension of the original binding offtake agreement to 10 years. The equity investment will go towards Vulcan’s planned production expansion drilling in its producing Upper Rhine Valley Brine Field. Vulcan is already producing geothermal energy from its URVBF and plans to produce lithium hydroxide with zero fossil fuels and net zero carbon footprints as part of the Zero Carbon Lithium Project.Vulcan is aiming to become the world’s first lithium producer with net zero greenhouse gas emissions. Its Zero Carbon Lithium Project intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lithium resource, which is Europe’s largest lithium resource in Germany. Vulcan’s Zero Carbon Lithium Project aims to produce both renewable geothermal energy, and lithium hydroxide, from the same deep brine source. In doing so, Vulcan intends to address lithium’s EU market requirements by reducing the high carbon and water footprint of production, and total reliance on imports.Stellantis is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger car battery electric vehicle sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. Stellantis will be the industry champion in climate change mitigation, becoming carbon net zero by 2038, with a 50% reduction by 2030.