Stellantis and CATL sign deal for local supply of LFP batteries for European market
Stellantis and CATL announced the signing of a non-binding Memorandum of Understanding (MoU) for the local supply of LFP battery cells and modules to power Stellantis’ electric vehicle production in Europe. To further support Stellantis’ electrification strategy, the two companies are considering the possibility of forming a joint venture with equivalent contributions.
The MoU outlines a long-term collaboration between CATL and Stellantis on two strategic fronts: building a bold technology roadmap to support Stellantis’ cutting-edge battery electric vehicles and identifying opportunities to further strengthen the battery value chain.
“This MoU with CATL on LFP battery chemistry is another ingredient in our long-term strategy to protect freedom of mobility for the European middle class,” said Stellantis CEO Carlos Tavares. “CATL is the industry leader in this sector and together with our iconic vehicle brands, we will bring innovative and accessible battery technology to our customers while helping us achieve our carbon net zero ambition by 2038.”
“We are very pleased to elevate our cooperation with Stellantis to a new level. With Stellantis’ time-honored expertise in car manufacturing and CATL’s advanced battery technology, we believe the partnership will be a decisive step on both parties’ journey towards carbon neutrality goals,” said Robin Zeng, Chairman and General Manager of CATL. “We will remain dedicated to delivering more competitive and sustainable solutions for our partners to promote global energy transition.”
As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching a 100 percent passenger car battery electric vehicle (BEV) sales mix in Europe and a 50 percent passenger car and light-duty truck BEV sales mix in the United States by 2030.