Novonix (NVX.US) has signed a deal to supply synthetic graphite to carmaker Stellantis (STLA.US)

Australian battery maker Novonix (NVX.US) said on Monday it had signed a binding purchase agreement with carmaker Stellantis (STLA.US) to supply high-performance synthetic graphite materials for its battery manufacturing partners in North America. As part of the agreement, the company will provide at least 862,500 metric tons of synthetic graphite to Stellantis' battery manufacturing partners in North America during the period from 2026 to 2031, reaching a target volume of 115,000 metric tons.

Novonix CEO Chris Burns said: "The contract allocates the remaining available production to our Riverside plant, with some production to be made at our planned greenfield plant."

The Australian company also said it is building a new production facility in the southeastern United States, with an initial capacity of 30,000 tons per year and plans to expand it to 75,000 tons per year.