The news came down this morning. The TotalEnergies group, formerly Total, has just announced the extension of its strategic partnership with Stellantis, recently born from the merger of PSA and Fiat-Chrysler, with a global cooperation agreement for another 5 years. Let's go over the details of this alliance.
First of all, little information was transmitted about this partnership extension between Stellantis and TotalEnergies on the financial level.
We simply learn in the press release published this morning that the TotalEnergies group has decided to extend its partnership with Stellantis, a group created in January 2021 following the merger between the PSA and Fiat-Chrysler groups, for a further five years. The existing partnership covered the Peugeot, Citroën and DS Automobiles brands.
Today, the two groups have thus decided to extend this alliance to the Opel and Vauxhall brands.
We also know that these worldwide cooperation agreements will cover 5 fundamental areas that we will detail below.
Thus, the partnership is going to concern in particular collaboration in research and development with common objectives in terms of sustainable development and innovation especially in new mobilities, low carbon or biosourced fuels, lubricants and optimized fluids for new electrified engines and their components including batteries.
Another section concerns original equipment lubricants with supply and for vehicles produced in the factories of the relevant brands of the Stellantis group throughout the world.
There is also the exclusive recommendation of Quartz lubricants in the after-sales and maintenance networks of the Peugeot, Citroën, DS Automobiles, Opel and Vauxhall brands with access to TotalEnergies' high-tech engine oils that are specifically developed for the vehicle engines of these five brands.
The two brands will also work together in motor racing, with technical and sporting cooperation centered on various electric and hybrid programs launched by the brands. This includes Peugeot's return to the 24 Hours of Le Mans and FIA World Endurance Championship in the hypercar category for hybrid prototypes, the batteries for which will be produced by this collaboration between the two groups. The partnership also includes continued support for the DS-Techeetah team, which is the title holder in the ABB FIA Formula E World Championship, an electric single-seater competition with the development of the Quartz EV Fluid range. Finally, a new partnership will be set up with Opel Motorsport to launch the Opel Corsa-e Rally Cup, the first electric rally world cup.
The last part of this new partnership concerns mobility and electric recharging, which is a new aspect of this alliance with Free2Move, Stellantis' mobility brand, which will use TotalEnergies' network of recharging stations for its car-sharing business in Paris. The two groups are also studying other proposals related to electric mobility.