Researched by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Automaker Stellantis (NYSE:STLA) (Hoofddorf, Netherlands) recently invested US$90 million worth of Argentine pesos to purchase 19.9% of Argentina Litio y Energia S.A. (ALE) from Argentina Lithium and Energy. Stellantis hopes to expand its supply of the metal--a key component of electric vehicle (EV) batteries--by developing projects in Argentina.

Following this transaction, Argentina Lithium will retain the remaining 80.1% of shares of its subsidiary in the South American country. Stellantis and Argentina Lithium also have agreed to a significant offtake deal.