Stellantis is in talks with Vale and China’s Huayou Cobalt to invest in a nickel smelter in Indonesia and secure supplies of the battery metal critical to its electric vehicle expansion plans, in a deal that if finalised would bring a rare western investor into Indonesia’s nickel industry.
Stellantis, owner of the Peugeot, Fiat and Jeep brands, is in discussions with Vale Indonesia to invest in a high-pressure acid leaching plant that converts low-grade nickel ore to battery-grade metal, three people familiar with the matter said.
Huayou, one of the world’s top producers of nickel and cobalt, will hold a stake in the project alongside Stellantis and Vale, with the size of the companies’ investment yet to be determined, they said.
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