The companies, which have set up a 50/50 joint venture, said they will invest $4.33 billion in a factory in Zaragoza. They expect to start making batteries by the end of 2026.

Europe and the United States are on track to step up levies on imports of Chinese EVs in coming weeks, but those levies could fuel inflation, put climate goals at risk and lead to retaliation from Beijing

Late last year a Russian firm imported car kits to assemble Citroёn C5 models at an old plant still owned by Stellantis; they came from China's Dongfeng Motor Group

Stellantis and CATL have a preliminary agreement on producing lithium iron phosphate (LFP) batteries for the automaker's EVs in Europe

The two automaker groups joined the startup’s latest $33 million funding round as it works to develop permanent magnets built without rare earths

The Netherlands-based joint venture is expected to start exporting vehicles in the second half of 2024

The ‘SiliconAuto’ joint venture will design and provide semiconductors for Stellantis’s Fiat and Peugeot brands as well as other automakers

Stellantis plans to produce dozens of electric models in the coming decade, but its CEO Carlos Tavares has said it could be five or six years before affordable battery EVs are created

The A$76 million ($52 million) investment would make Stellantis the company's second-largest investor with an 8% holding

Both companies said operations are expected to start in 2025, with an initial annual production capacity of 23 gigawatt hours, and the ability to increase to up to 40 GWh later

"We have been working for many years now on localisation, vertical integration in India, to enjoy the smart frugality of India," CEO Carlos Tavares said

The company, which made $500 million in Asia-Pacific, has stated a goal of improving its performance in China and the rest of the region