Australia's Novonix slumps after Stellantis offtake deal ends

Novonix

04/11/2025 24:10

** Shares of Australia's Novonix NVX.AX fall as much as 15% to A$0.48, their lowest since October 3

** Battery metals and technology company says a unit of automaker Stellantis STLAM.MI has terminated its offtake agreement with co due to disagreements over product specifications, among others

** Agreement involved supply up to a target volume of 115,000 tonnes over six years

** Stock down 31.6% YTD

(Reporting by Shruti Agarwal in Bengaluru)

((Shruti.Agarwal@thomsonreuters.com))