PowerCo SE, the battery division of Volkswagen Group, and Patriot Battery Metals Inc. have announced a strategic partnership aimed at securing lithium supplies for the growing electric vehicle (EV) market. This marks PowerCo’s first investment in the lithium supply chain as part of its vertical integration strategy, which spans from mining to battery production.
As part of the deal, Volkswagen Group has invested US$48 million to acquire a 9.9% stake in Patriot Battery Metals, while the two companies have committed to a long-term agreement for the supply of 100,000 tonnes of spodumene concentrate per year for 10 years, starting when the Shaakichiuwaanaan Lithium Project begins production. This lithium concentrate is essential for producing battery-grade lithium chemicals, key to PowerCo’s expanding cell production capabilities in Europe and North America, including its gigafactory in St. Thomas, Canada.
The partnership also supports the development of the Shaakichiuwaanaan Lithium Project, which ranks as one of the largest lithium pegmatite resources in the Americas and the eighth largest in the world. The high-grade deposit promises a reliable source of lithium for PowerCo’s battery cell plants. Both companies are committed to maintaining high environmental, social, and governance (ESG) standards throughout their joint operations, including waste management, water use, and community engagement.
Thomas Schmall, Volkswagen Group Board Member for Technology, emphasized that this partnership supports the transition to a fully electric future by securing critical raw materials for sustainable battery technology. PowerCo’s Chief Procurement Officer, JörgTeichmann, added that the alliance strengthens the company’s presence in North America and helps build a resilient, sustainable battery industry. Ken Brinsden, CEO of Patriot Battery Metals, expressed pride in the partnership, highlighting the world-class potential of the Shaakichiuwaanaan project and its role in the global EV supply chain.
Patriot Battery Metals is a Canadian exploration and development company specializing in critical minerals essential for the battery and clean energy industries. With a primary focus on lithium and other strategic resources, the company is driving initiatives to support the global transition to electric mobility and renewable energy. Patriot Battery Metals’ flagship projects, such as the Corvette Property in Quebec, hold significant potential for high-grade lithium deposits. By leveraging sustainable mining practices and fostering innovation, the company is dedicated to contributing to the global supply chain for clean energy materials while prioritizing environmental stewardship and economic growth.
PowerCo, a subsidiary of Volkswagen Group, is at the forefront of advancing battery technology and energy solutions for electric vehicles (EVs) and energy storage systems. The company focuses on the development and production of high-performance batteries, ensuring sustainability through innovative recycling processes and renewable energy integration.
With a commitment to building gigafactories globally, PowerCo is instrumental in securing a stable battery supply chain for Volkswagen’s EV portfolio while addressing the growing demand for eco-friendly energy solutions. Its emphasis on cutting-edge research and strategic partnerships positions PowerCo as a key player in shaping the future of mobility and sustainable energy.
