• Stellantis terminated offtake agreement with Novonix effective immediately
• Parties unable to agree on battery cell product specifications and milestones
• Novonix remains focused on deliveries for Panasonic and PowerCo, and providing samples to other customers

Novonix Ltd, a leading battery materials and technology company, announced that FCA US LLC (a subsidiary of Stellantis NV) has terminated its offtake agreement with the company effective immediately. The two parties were unable to agree upon the unique battery cell product specifications and milestones for mass production qualification. In November 2024, Novonix had announced the signing of an offtake agreement with Stellantis for a minimum of 86,250 tonnes up to a target volume of 115,000 tonnes over a six-year term, with the final product specifications to be confirmed at a later date. The start of commercial supply was targeted for January 1, 2026. While Novonix is disappointed with this decision, the company remains focused on its deliveries for Panasonic and PowerCo and continuing to provide samples to 15 current and potential customers for battery and industrial applications. Novonix's Riverside facility is poised to become the first large-scale production site dedicated to high-performance synthetic graphite for the battery, defense, and industrial sectors in North America, with mass production starting next year for its lead customer, Panasonic. The company also previously announced plans for a second synthetic graphite manufacturing plant, the Enterprise South location, in Chattanooga, Tennessee, which together with the Riverside facility will give Novonix a total production capacity of over 50,000 tonnes per year.