CATL and Stellantis Sign Strategic MoU for the Local Supply of LFP Batteries for European Market
- The MoU outlines joint development of a state-of-the-art technology roadmap and future battery value chain opportunities
- CATL and Stellantis are considering the possibility of a joint investment in the form of a joint venture with equivalent contributions
- Stellantis aims to leverage lithium iron phosphate (LFP) batteries to power its European electric vehicle production, supporting its aggressive Dare Forward 2030 electrification targets
NINGDE, China, Nov. 21, 2023 /PRNewswire/ -- CATL and Stellantis N.V. today 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' aggressive electrification strategy, the two companies are considering the possibility to form 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."
Featuring a long service life and high thermal stability, LFP technology can enable Stellantis to offer high-quality, durable, and affordable electric vehicles in passenger cars, crossovers and SUVs in the B and C segments.
As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the United States by 2030. Stellantis is on track to become a carbon net zero corporation by 2038. Stellantis is assembling a roster of partnerships to ensure a stable, low-carbon supply of key materials for its electrified future.
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