On December 18, 2024, Patriot Battery Metals announced a C$69 million strategic investment by Volkswagen, set to close by mid-January 2025. Volkswagen acquired 15,557,500 common shares at C$4.42 per share, securing a 9.9% stake in Patriot.

The proceeds will fund exploration, development, and feasibility studies for the Shaakichiuwaanaan Project. Volkswagen's subsidiary, PowerCo, entered a 10-year offtake agreement for 100,000 tonnes of spodumene concentrate annually, supporting its battery production in Europe and North America.

Macquarie Capital acted as Patriot's financial advisor, with legal counsel from Davies Ward Phillips & Vineberg LLP in Canada and Allens in Australia.