Stellantis, China’s CATL Plan Factory In Europe To Make Cheaper Ev Batteries

Stellantis says it plans to build an electric vehicle battery plant with China's CATL in Europe.
This will be its fourth Ev battery plant in the region, as the European carmaker seeks to make cheaper batteries and more affordable EVs.
The two companies announced a preliminary agreement for the supply of lithium iron phosphate battery cells and modules for the automaker's EV production in Europe.
They said they were also considering setting up a 50-50 joint venture in the region.
Stellantis Global Head of Purchasing and Supply Chain Maxime Picat said the JV plan with CATL was aimed at building a new gigafactory in Europe to make LFP batteries.
Picat said Discussions were ongoing with CATL on the JV plan and a few more months were needed to finalise it.
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