ENERGY STORAGE

Stellantis Ventures invests in French sodium-ion battery company Tiamat

January 16, 2024

Stellantis Ventures, the corporate venture fund of Stellantis N.V., has become a strategic investor in Tiamat, a France-based company that develops and commercialises sodium-ion battery technology.

A Stellantis statement said sodium-ion technology “offered a lower cost per kilowatt-hour and is free of lithium and cobalt”. It added: “Abundantly available sodium offers benefits in increased sustainability and material sovereignty.”

Tiamat, which is a spin-off of the French National Centre for Scientific Research (CNRS), will use proceeds from the fundraising round to launch construction of a sodium-ion battery plant in France. The first priority will be the power tools and stationary storage applications market, before subsequently targeting the scaling-up of production of second-generation products for BEV applications.

Ned Curic, Stellantis chief engineering and technology officer, said: “Exploring new options for more sustainable and affordable batteries that use widely available raw materials is a key part of our ambitions of the Dare Forward 2030 strategic plan that will see us reach carbon net zero by 2038. Our customers are asking for emissions-free vehicles that offer a combination of robust driving range, performance and affordability. This is our North Star, as Stellantis and its partners work today to develop ground-breaking technologies for the future.”