Stellantis and Chinese company Contemporary Amperex Technology (CATL) have announced the signing of a non-binding memorandum of understanding for the local supply of LFP (lithium iron phosphate) battery cells and modules, which are more affordable, to boost the production of electric vehicles by the automotive group in Europe.
To further support Stellantis’ electrification strategy, the two companies are also considering the formation of a joint venture with equivalent investments, which could enable the construction of a battery factory in Europe.
The memorandum now signed between the two companies establishes a long-term collaboration between CATL and Stellantis to build a strong technological path to support the automotive group’s next-generation battery electric vehicles and identify opportunities to further strengthen the battery value chain.
“This memorandum with CATL on LFP battery chemistry is another ingredient in our long-term strategy to protect the mobility freedom of the European middle class,” said Carlos Tavares, CEO of Stellantis.
It should be noted that as part of the “Dare Forward 2030” plan, Stellantis announced plans to achieve 100% battery electric vehicle (BEV) sales in passenger cars in Europe and 50% in passenger cars and light commercial vehicle sales in the US by 2030.
