CTOnews.com, November 21, European automotive giant Stellantis Group announced that Ningde Times has signed a strategic memorandum of understanding with Stellantis Group to supply lithium iron phosphate batteries to Stellantis Group in the European market.
The MOU outlines the opportunities for the two sides to jointly develop a state-of-the-art technology roadmap and jointly expand the future battery value chain.
In addition, in order to further support the electrification strategy and objectives of the Stellantis Group, the two sides are exploring the possibility of setting up a joint venture in a reciprocal mode.
Carlos Tavares, global CEO of Stellantis Group, said: "the memorandum of understanding with Ningde Times on lithium iron phosphate batteries is another part of Stellantis's long-term strategy to protect the freedom of travel of the European middle class. As an industry leader in the battery industry, Ningde Times, together with many of Stellantis's iconic automotive brands, will bring customers innovative, easy-to-use and popularize battery technology, while helping Stellantis Group achieve its goal of achieving net zero carbon emissions by 2038. "
According to reports, lithium iron phosphate battery technology has the characteristics of long life and high thermal stability, which will help Stellantis to provide customers with high-quality, durable and affordable electric vehicles, ranging from B-class to C-class cars, crossovers and SUV.
CTOnews.com Inquiry learned that as part of the Stellantis Group's "Dare Forward 2030" strategic plan, the group's electrification goal is that by 2030, all passenger cars sold by Stellantis in Europe will be pure electric vehicles, and 50 per cent of passenger cars and light trucks sold in the United States will be pure electric vehicles. At the same time, Stellantis plans to become a net zero-carbon company by 2038, and the Group is creating a series of partnerships to ensure a stable and low-carbon supply of key raw materials in the future implementation of its electrification.
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