(RTTNews) - CATL and Stellantis N.V. announced the signing of a non-binding Memorandum of Understanding for the local supply of LFP battery cells and modules to power Stellantis' electric vehicle production in Europe. LFP technology can enable Stellantis to offer durable, and affordable electric vehicles in passenger cars, crossovers and SUVs in the B and C segments. Also, the companies are considering the possibility to form a joint venture with equivalent contributions.
Stellantis CEO Carlos Tavares said: "CATL is the industry leader in this sector and together with our iconic vehicle brands, we will bring innovative and accessible battery technology to our customers while helping us achieve our carbon net zero ambition by 2038."
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