Stellantis funds US startup Lyten to build lithium-sulfur batteries. On Thursday, Lyten and Stellantis (STLAM.MI) announced an investment to help the U.S. startup develop lithium-sulfur EV batteries, lightweight composite, and onboard sensing technologies.
Stellantis Ventures, Stellantis’ venture capital arm, will invest in the world’s third-largest carmaker to simplify its supply chain and seek cleaner battery-electric vehicle (EV) technologies.
The businesses stated that Lyten’s lithium-sulfur batteries don’t require nickel, cobalt, or manganese, resulting in a 60% smaller carbon footprint than current batteries.
“Raw materials for lithium-sulfur batteries have the potential to be sourced and produced locally, in North America or Europe, enhancing regional supply sovereignty,” they stated.
“This technology will meet the needs of industries seeking lightweight and energy-dense batteries free from supply chain disruptions.”
They stated that Lyten’s goods would assist manufacturers in taking advantage of U.S. and European governmental incentives, including the Inflation Reduction Act.
No transaction details were given.
Stellantis CEO Carlos Tavares claimed Lyten’s materials technology might reduce vehicle weight, lowering carbon emissions.
Stellantis, which owns Peugeot, Fiat, Jeep, and Ram, wants carbon neutrality by 2038. As a result, 100% of its European passenger car sales and 50% of its U.S. passenger car and light-duty truck sales will be battery EVs by 2030.
The carmaker’s senior fellow for energy storage and electrification, Oliver Gross, said it expects Lyten’s batteries “definitely within the second half of the decade.”