Automaker Stellantis is set to invest in a geothermal energy project in Germany with lithium developer Vulcan Energy Resources to help power a manufacturing facility for electric vehicles, Vulcan said on Tuesday.
The phased project is aimed at providing renewable heat to Stellantis' Rüsselsheim manufacturing facility, which produces the DS 4 and Opel Astra models, Australia-based Vulcan said in a statement.
Vulcan will initially carry out a pre-feasibility study for the development of geothermal renewable energy projects in Rüsselsheim.Stellantis, which holds an 8% stake in Vulcan, will aim to source funding for 50% of the project development after the first phase of the project. Stellantis wants battery electric vehicles to make up 100% of its European passenger car sales by 2030. It recently
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