Volkswagen buys 9.9% stake in Vancouver-based Patriot Battery Metals for $48 million
The binding offtake agreement between PowerCo and Patriot Battery Metals covers the supply of 100,000 metric tons of spodumene concentrate per year for a period of 10 years as soon as the Shaakichiuwaanaan Project starts production
PowerCo SE, Volkswagen Group’s battery company, has entered into a strategic partnership with the Vancouver-based Patriot Battery Metals Inc. to ensure a long-term supply of lithium raw materials through a binding offtake commitment, Volkswagen announced Dec. 18.
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