Stellantis, CATL Plan to Build EV Battery Plant in Europe
- Pact will see local supply of lower-cost EV batteries
- Companies to explore JV targeting battery value chain
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Stellantis NV and China’s Contemporary Amperex Technology Co. Ltd. plan to set up a factory for low-cost electric-vehicle batteries in Europe, deepening ties between the Fiat maker and Chinese companies.
The plant will make lithium-iron-phosphate batteries, Stellantis said Tuesday, adding that no decision has been made on its size or location. The partners are also considering a joint venture in which both contribute equally.