Volkswagen’s PowerCo SE has partnered with Patriot Battery Metals in a CAD $65 million deal marking VW’s entry into the lithium supply chain.
The agreement grants PowerCo a 9.9% stake in Patriot and a 10-year offtake for 100,000 tonnes of spodumene concentrate annually from the Shaakichiuwaanaan Lithium Project. This aligns with PowerCo’s goal to vertically integrate battery production and support its St. Thomas, Ontario, gigafactory.
Both companies emphasize ESG compliance, First Nations engagement, and sustainable lithium chemical production, ensuring environmental stewardship. This partnership strengthens North America’s role in the electric vehicle ecosystem and PowerCo’s global battery ambitions.
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