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Stellantis (STLA) Invests in Lyten for EV Battery Technology

Stellantis Venture, the corporate venture fund of Stellantis N.V. STLA, has invested in Lyten to develop 3D Graphene applications for Lithium-Sulphur EV batteries, lightweighting composites and onboard sensing solutions. Lyten’s tunable material platform enhances vehicle performance and user experience and reduces greenhouse emissions.

As opposed to lithium-ion batteries, Lithium-Sulphur batteries do not use cobalt, nickel or manganese and hence lowers carbon footprint by approximately 60% compared with other EV batteries.

Raw materials used in Lithium-Sulphur batteries can be sourced and produced locally in Europe and North America, resulting in improved supply sovereignty. The technology is suitable for industries that seek lightweight and energy-dense batteries free from supply chain disruption.

Stellantis Venture is a venture capital fund launched in 2022 that is devoted to investing in early- and later-stage startups that focus on innovative and sustainable technologies for the automotive and mobility sectors. Stellantis Venture is an essential component of Sellantis’ Dare Forward 2023 plan, which aims to cut its CO2 emissions by half by 2030 versus 2021. The plan also aims to achieve carbon net zero by 2038.

According to Lyten’s president and CEO, Dan Cook, Lithium-Sulphur batteries can provide twice the energy density of lithium-ion, a payload-improving lightweight vehicle composite and new sensing modes that don’t require chips, wires or batteries.

The Lithium-Sulphur battery is the best alternative to the traditional lithium-ion battery, which requires materials that are not sufficiently available. Moreover, the inclusion of environmentally sustainable products enables auto manufacturers to benefit from United States and European policy incentives.

Lyten’s Lithium-Sulphur EV batteries, lightweight composites and onboard sensing solutions are currently being produced on its 145,000-square-foot Silicon Valley campus. Beside producing EV batteries, Lyten is working with other customers to start supplying Lithium-Sulphur batteries and 3D Graphene-infused composites to markets in 2023.

Zacks Rank & Key Picks

STLA currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Other top-ranked players in the auto space are Ford Motor F, General Motors GM and Wabash National WNC, all of which carry the same rank as Ford.

Ford is one of the leading automakers in the world. The Zacks Consensus Estimate for F’s 2023 sales implies year-over-year growth of 7.6%.

General Motors is one of the world’s largest automakers. The Zacks Consensus Estimate for GM’s 2023 sales indicates year-over-year growth of 4.5%.

Wabash is one of the leading manufacturers of semi-trailers in North America. The Zacks Consensus Estimate for WNC’s 2023 sales and earnings indicates year-over-year growth of 12% and 90.7%, respectively.


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