Stellantis Ventures, the corporate venture fund of Stellantis N.V., has announced its strategic investment in Tiamat.
The funds from the investment will enable Tiamat to embark on the construction of a sodium-ion battery plant in France.
What sets sodium-ion technology apart is its lower cost per kilowatt-hour and its freedom from lithium and cobalt, making it an economically and environmentally compelling alternative.
Sodium-ion technology not only promises a more affordable energy storage option but also enhances sustainability and material sovereignty by leveraging abundant sodium resources.
Ned Curic, Stellantis Chief Engineering and Technology Officer, highlighted the importance of seeking innovative and sustainable alternatives in battery technology.
He stated, “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.”
Tiamat, a spin-off of the French National Centre for Scientific Research (CNRS), stands out as the first company globally to have recently commercialized a sodium-ion technology in an electrified product.
Initially focusing on power tools and stationary storage applications, the firm aims to scale up production to second-generation products for Battery Electric Vehicle (BEV) applications.
Stellantis, as part of its Dare Forward 2030 plan, is committed to achieving a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% mix in the United States by 2030.
To support these goals, the company is securing approximately 400 GWh of battery capacity and investing in various alternative energy storage technologies, including solid-state batteries and lithium-sulfur chemistry, in addition to sodium-ion technology with Tiamat.
By pursuing such partnerships and investments, Stellantis is on track to become a carbon net zero corporation by 2038, addressing all emission scopes and contributing to a sustainable and electrified future in the automotive industry.
About Stellantis Ventures
Established with an initial investment of 300 million euros, Stellantis Ventures is the first Stellantis corporate venture fund.
It targets early and later-stage startup companies that are developing cutting-edge technologies for the automotive and mobility sectors and are focused on improving outcomes for individual customers and society as a whole.
The fund has a unique dual mandate that requires portfolio companies to have strong, sustainable growth prospects as well as a high potential for technological adoption within Stellantis’ products and operations.
Backed by one of the world’s leading automakers and mobility providers, Stellantis Ventures is uniquely positioned to drive value quickly and effectively for portfolio members.