03:48 AM EST, 11/11/2024 (MT Newswires) -- Stellantis ( STLA ) has struck an offtake agreement under which Novonix ( NVX ) will supply a minimum of 86,250 tons of synthetic graphite material, with a target volume of up to 115,000 tons, the companies said Sunday.

The material will be supplied from Novonix's ( NVX ) Riverside factory to Stellantis' ( STLA ) battery cell manufacturing suppliers in North America over six years beginning in 2026.

Prices for the materials will be based on a market-based price formula, the companies said.