Fourth largest automaker seeks eco-friendly alternative to lithium-ion batteries
Stellantis, a multinational company between Italian conglomerate Fiat Chrysler and French PSA group responsible for sales of 16 different car brands including Dodge, Jeep, Ram and Chrysler is looking to invest in Silicon Valley based company, Lyten whose plan is to produce lithium-sulfur EV batteries. If successful this would eliminate the need for cobalt, nickel and manganese in the production of EV batteries. Instead they would be made with sulfur which could be domestically sourced eliminating the need to import from countries like Ukraine and China.
Another plus is the sulfur-lithium batteries are estimated to have a carbon footprint 60% lower than the best lithium-ion batteries on the market today and can be manufactured in the same factories as well. Stellantis is hoping to be in on the ground floor when these batteries are developed by Lyten.
This is great news for the world. As demand for EV cars which run a lithium battery as opposed to a fossil fuel powered engine increased by 65% from 2021 to 2022, with sales expected to top 14 million worldwide in 2023. This figure is 18% of car sales and represents a 35% increase from year to year.