Stellantis and CATL have signed a memorandum of understanding to find ways to develop cheaper batteries for electric vehicles that Stellantis will sell in Europe. Both companies want to have a long-term partnership and may establish a joint venture in the future.

The battery technology under consideration is lithium-iron-phosphate.

CATL is a Chinese company that announced the opening of a mega-plant in Hungary in the fall of 2022, where 9,000 jobs will be created, and investments will amount to 7.9 billion euros. CATL is the world’s largest manufacturer of batteries for electric vehicles.

• Citroen announces one of the cheapest electric cars in Europe. The e-C3 will also have a version up to €20,000 and will be manufactured in Slovakia

Stellantis is one of the largest car manufacturers in the world, with more than 10 brands in its portfolio, including Fiat, Opel, Citroen and Peugeot.

There is a great need to lower battery prices so that more people can afford electric cars in Europe.

• PHOTO. What does Renault’s city electric car look like, which will cost less than 20,000 euros and will be released in almost three years

Stellantis has a big plan for the electrification of the range and has also promised an electric car, the price of which will start from 20,000 euros. The promised version of the Citroen e-C3 will be manufactured in Slovakia and will be released in 2025. The e-C3 model will initially have a variant with a longer range of up to 320 km, which will cost 23,300 euros.

Jonathan Weiss, Dreamstime.com