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RENAULT GROUP PARTNERS WITH VULCAN ENERGY IN THE ZERO CARBON LITHIUM PROJECT

Renault Group, top automotive player and pioneer in the European EV market, and Vulcan Energy, a global leading lithium developer, have signed a lithium offtake term sheet. This agreement is for an initial five-year term which can be extended if mutually agreed, with a start of commercial delivery set for 2026.

In line with Renault Group ambition to offer made in Europe cars, and following the launch of Renault ElectriCity the most competitive and efficient production unit for electric vehicles in Europe the Group will purchase between 6,000 to 17,000 metric tonnes per year of battery grade lithium chemicals produced in Germany by Vulcan Energy.

Renault Group, that has set the aim to achieve carbon neutrality worldwide in 2050, continues to accelerate its EV strategy to reach the greenest mix in the European market in 2025, with over 65% of electric and electrified vehicles in the sales mix and up to 90% battery electric vehicles mix in 2030. Thanks to Vulcan Energy, which will produce a battery quality lithium chemical product from its combined geothermal energy and lithium resource while reducing lithium high carbon and water footprint on production, Renault Group will be able to avoid from 300 to 700 kg of CO2 for a 50 kWh battery.