CATL and Stellantis Sign Memorandum of Understanding for Joint Venture
CATL and Stellantis Form a Joint Venture with a Memorandum of Understanding
【PhoneAuto News】On November 21st, CATL (Contemporary Amperex Technology Co., Limited) and Stellantis Group signed a non-binding memorandum of understanding. According to the memorandum, CATL will supply lithium iron phosphate (LFP) battery cells and modules to Stellantis in Europe to support its electric vehicle production in the European market. To further support Stellantis’ ambitious electrification strategy and goals, both parties are exploring the possibility of establishing a joint venture in an equal partnership mode.
In response to this, Zeng Yuqun, Chairman and CEO of CATL, said, “We are very pleased to elevate the partnership between the two parties to a new level. With Stellantis’ extensive experience in vehicle manufacturing and CATL’s advanced battery technology, I believe this cooperation will be a decisive step for both parties to achieve carbon neutrality goals. CATL will continue to devote itself to providing more competitive and sustainable solutions for our partners, making outstanding contributions to the global energy transition.”
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Carlos Tavares, CEO of Stellantis Group, said, “The memorandum of understanding reached with CATL on lithium iron phosphate batteries is another part of Stellantis’ long-term strategy to protect the mobility freedom of the European middle class. As a leader in the battery field, CATL will work together with Stellantis’ iconic automotive brands to bring innovative, user-friendly, and widely adopted battery technology to customers, while helping Stellantis Group achieve its goal of net-zero carbon emissions by 2038.”
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