Stellantis and CATL sign strategic MoU for the local supply of LFP batteries for European market; possible JV
Stellantis N.V. and CATL signed 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 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 technology roadmap to support Stellantis’ battery electric vehicles and identifying opportunities to strengthen the battery value chain further.
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.