Notice of Termination of Offtake Agreement – NOVONIX and Stellantis were unable to agree upon the unique battery cell product specifications and milestones for mass production qualification
Chattanooga, TN (USA), 4 November 2025 – NOVONIX Limited (NASDAQ: NVX, ASX: NVX) (“NOVONIX” or the “Company”), a leading battery materials and technology company, announced today that FCA US LLC (a subsidiary of Stellantis NV) (“Stellantis”) terminated its offtake agreement with the Company effective immediately. NOVONIX and Stellantis were unable to agree upon the unique battery cell product specifications and milestones for mass production qualification.
In November 2024, NOVONIX announced that they had signed an offtake agreement for a minimum of 86,250 tonnes up to a target volume of 115,000 tonnes over the six-year term of the agreement, the price of which was to be based on an agreed upon market-based price formula, and the final product specifications would be confirmed at a future date. The start of commercial supply was targeted for January 1, 2026
While NOVONIX is disappointed with this decision, it 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. To meet increasing customer demand, the Company previously announced plans for its second synthetic graphite manufacturing plant, also in Chattanooga, Tennessee, known as the Enterprise South location. Together, these facilities will give NOVONIX a total production capacity of over 50,000 tonnes per year.
This announcement has been authorised for release by Ron Edmonds, Chairman.
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Notice of Termination of Offtake Agreement – NOVONIX and Stellantis were unable to agree upon the unique battery cell product specifications and milestones for mass production qualification, source
