Stellantis Ventures, the venture capital fund of Stellantis NV,
announced todayi its participation as a strategic investor in Tiamat, a French company that develops and markets sodium ion battery technology.
This technology delivers a lower cost per kilowatt hour and is free of lithium and cobalt. The large availability of sodium offers numerous advantages in terms of greater sustainability and strategic independence.
Tiamat is one of eleven technology start-ups honored with the Stellantis Ventures Award in 2023, and is the first company in the world to commercialize sodium ion technology in an electrified product.
The investment supports Stellantis in offering clean, safe and affordable mobility to customers around the world. Sodium-ion technology promises more cost-effective energy storage than the current lithium-ion battery technology, which is widely used today.
“Finding new options for having batteries more sustainable and economically accessible raw materials that use widely available raw materials is a key ambition of our Dare Forward 2030 strategic plan, which will see us achieve zero net carbon emissions by 2038,” said Ned Curic, Chief Engineering and Technology Officer of Stellantis. “Our customers expect zero-emission vehicles capable of offering range, performance and convenience. This is the goal of Stellantis and our partners. Let's work together to develop the innovative technologies of the future.”
The transition to electric propulsion is a key pillar of the Dare Forward 2030 strategic plan, which includes the goal of achieving 100% of the BEV passenger car sales mix in Europe and 50% of the U.S. sales mix of BEV passenger cars and light commercial vehicles by 2030. To achieve these goals, Stellantis is securing approximately 400 GWh of battery capacity. In this way, Stellantis is moving in the right direction to become a zero carbon dioxide emissions company in all its areas by 2038, with single-digit percentage compensation of the remaining emissions.
In support of this ambition, Stellantis has secured the supply of raw materials for electric vehicles until 2027 by signing strategic agreements globally. Stellantis is also investing in the development of alternative energy storage technologies, such as solid-state batteries with Factorial Energy, lithium-sulfur chemistry with Lyten Inc., and sodium ions with Tiamat.
Tiamat is a spin-off of the Center National de la Recherche Scientifique (CNRS) Frenchman who benefits from his innovations. The company will use the proceeds from the fund's research plan, of which Stellantis Ventures is also part, to start the construction of a sodium ion battery plant in France. Initially these will be intended for electrical appliances and stationary storage applications and, subsequently, production will be increased with second generation products specific for BEV vehicles.
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