Stellantis said on Tuesday it plans to build an electric vehicle battery plant with China's CATL in Europe, its fourth one in the region, as the European carmaker seeks to make cheaper batteries and more affordable EVs.
The EV battery plans also mark a further strengthening of ties with China after the Franco-Italian carmaker shut down its previous JV, Guangzhou Automobile Group (601238.SS), last year.
Stellantis and CATL on Tuesday announced a preliminary agreement for the supply of lithium iron phosphate (LFP) battery cells and modules for the automaker’s EV production in Europe and said they were considering setting up a 50-50 joint venture in the region.
Tthe JV plan with CATL was aimed at building a new gigafactory in Europe to make LFP batteries, said Maxime Picat, Stellantis Global Head of Purchasing and Supply Chain.
Discussions were ongoing with CATL on the JV plan and a few more months were needed to finalise it, Picat said, declining to provide details about the possible location of the new battery facility.
In Europe, Stellantis – the owner of brands including Jeep, Peugeot, Fiat and Alfa Romeo – is building three gigafactories, in France, Germany and Italy through its ACC joint venture with Mercedes (MBGn.DE) and TotalEnergies (TTEF.PA), specialising on NMC chemistry.
Under Tuesday’s agreement, CATL will initially supply LFP batteries to Stellantis for EVs in its passenger car, crossover and small and medium sized SUV segments.
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The EV battery plans also mark a further strengthening of ties with China after the Franco-Italian carmaker shut down its previous JV, Guangzhou Automobile Group (601238.SS), last year.
Stellantis and CATL on Tuesday announced a preliminary agreement for the supply of lithium iron phosphate (LFP) battery cells and modules for the automaker’s EV production in Europe and said they were considering setting up a 50-50 joint venture in the region.
Tthe JV plan with CATL was aimed at building a new gigafactory in Europe to make LFP batteries, said Maxime Picat, Stellantis Global Head of Purchasing and Supply Chain.
Discussions were ongoing with CATL on the JV plan and a few more months were needed to finalise it, Picat said, declining to provide details about the possible location of the new battery facility.
In Europe, Stellantis – the owner of brands including Jeep, Peugeot, Fiat and Alfa Romeo – is building three gigafactories, in France, Germany and Italy through its ACC joint venture with Mercedes (MBGn.DE) and TotalEnergies (TTEF.PA), specialising on NMC chemistry.
Under Tuesday’s agreement, CATL will initially supply LFP batteries to Stellantis for EVs in its passenger car, crossover and small and medium sized SUV segments.
The original article contains 462 words, the summary contains 198 words. Saved 57%. I’m a bot and I’m open source!