Stellantis Looking into Lithium-Sulfur Batteries, Invests in U.S. Startup Lyten
- May 26, 2023
- Posted by: Quatro Strategies
- Category: Manufacturing
Multinational automotive major Stellantis has invested in U.S. battery startup Lyten, to help it develop lithium-sulfur EV batteries, lightweight composites and on-board sensing solutions. The investment, through Stellantis’ venture capital arm Stellantis Ventures, aims to help the world’s third largest carmaker by sales simplify its supply chain and pursue greener technology for its battery-electric vehicles (EVs). Lithium-sulfur batteries developed by Lyten do not use nickel, cobalt and manganese unlike lithium-ion batteries, resulting in an estimated 60% less carbon emissions.
“Raw materials for lithium-sulfur batteries have the potential to be sourced and produced locally, in North America or Europe, enhancing regional supply sovereignty,” the companies said in a statement.
“This technology will meet the needs of industries seeking lightweight and energy-dense batteries that are free from supply chain disruptions”.
Lyten’s products will also help manufacturers take advantage of U.S. and European policy incentives, such as those in the U.S. Inflation Reduction Act, the two companies further stated.
No financial or other details of the transaction were provided.
Stellantis CEO Tavares said Lyten’s materials technology could help to reduce vehicle weight, further aiding the drive to lower carbon emissions.
Stellantis, whose brands include Peugeot, Fiat, Jeep and Ram, targets net zero carbon emissions by 2038. It is also targeting 100% of its European passenger car sales and 50% of its U.S. passenger car and light-duty truck sales to be battery EVs by 2030.
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