Contemporary Amperex Technology Co. Limited (CATL) and Stellantis have recently announced the signing of a non-binding Memorandum of Understanding (MoU). According to the MoU, CATL will supply lithium iron phosphate (LFP) battery cells and modules to Stellantis in Europe.
As part of Stellantis' "Dare Forward 2030" strategic plan, the group aims to achieve complete electrification of its European passenger vehicle lineup by 2030. Additionally, by 2030, Stellantis envisions 50% of its passenger cars and light trucks sold in the United States to be fully electric. The broader ambition is for Stellantis to become a net-zero carbon emissions company by 2038.
Carlos Tavares, the global CEO of Stellantis, stated, "The Memorandum of Understanding with CATL on lithium iron phosphate batteries is another component of Stellantis' long-term strategy to preserve the freedom of mobility for the middle class in Europe. As an industry leader in battery technology, CATL will collaborate with Stellantis' iconic automotive brands to provide customers with innovative and easily deployable battery technology. This partnership will also contribute to Stellantis' goal of achieving net-zero carbon emissions by 2038."
