Stellantis, CATL sign MoU for supply of LFP battery cells and modules in Europe

Stellantis and CATL announced the signing of a non-binding memorandum of understanding, or 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. As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching a 100% passenger car battery electric vehicle, or 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.