Stellantis Ventures, Stellantis' corporate venture fund, announced that it has joined Tiamat, a France-based company that develops and commercializes sodium-ion battery technology, as a strategic investor.
Stellantis, which is accelerating its efforts to transition to electric vehicles, continues its investments and work in this field. In this context, Stellantis' corporate venture fund Stellantis Ventures announced that it has joined Tiamat, a France-based company that develops and commercializes sodium ion battery technology, as a strategic investor. Sodium ion technology provides a lower cost per kilowatt-hour and does not contain lithium and cobalt. The fact that sodium is an abundant element provides significant advantages in terms of sustainability and raw material use.
Tiamat, one of the 2023 best-performing technology start-up companies awarded the Stellantis Ventures Award in 11, recently became the first company in the world to commercialize sodium ion technology in an electrical product. The investment supports Stellantis' mission to provide clean, safe and affordable transportation to customers around the world.
Sodium ion technology provides more cost-effective energy storage compared to the lithium ion battery technology that is widely used today. Providing information on the subject, Stellantis Chief Engineering and Technology Officer Ned Curic said, “Exploring new options for more sustainable and affordable batteries that use widely available raw materials is an important part of our Dare Forward 2038 strategic plan goals, which will enable us to achieve our net zero carbon goal by 2030. Our customers want emissions-free vehicles that offer a combination of improved driving range, performance and affordability. “As Stellantis, we work with our partners to develop groundbreaking technologies for the future, and this is our North Star on the path to our goal.” said.
The transition to an electric powertrain system is an important pillar of the Dare Forward 2030 strategic plan. This includes reaching an all-passenger battery electric vehicle (BEV) sales mix in Europe and a 2030 percent passenger and light-duty electric vehicle sales mix in the United States by 50. To achieve these sales targets, Stellantis is securing approximately 400 GWh of battery capacity. Stellantis is on track to become a net-zero carbon company with single-digit percentage offsets of remaining emissions, all inclusive, by 2038. In order to support this goal, Stellantis has signed important agreements around the world and secured the supply of EV raw materials until 2027. It has also invested in the development of alternative technologies for energy storage, including solid state with Factorial Energy, lithium-sulfur with Lyten Inc, and sodium-ion with Tiamat. doing.
Tiamat, a subsidiary of the French National Center for Scientific Research (CNRS), benefits from all the innovations of its class. The company will use the proceeds from fundraising activities involving Stellantis Ventures to first launch construction of a sodium-ion battery factory in France for power tools and stationary storage applications, and then aim to scale up production of second-generation products for BEV applications.
Stellantis Ventures is the first corporate venture fund of Stellantis, established with an initial investment of 300 million Euros. The fund targets start-up companies that develop advanced technologies for the automotive and transportation sectors, focusing on improving outcomes for individual customers and society as a whole. The fund has a dual mandate that requires portfolio companies to have strong, sustainable growth prospects as well as high potential for technology adoption across Stellantis' products and operations.