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

Boosting business in China, the world's biggest car market, is one area analysts want addressed by chief executive Carlos Tavares

(ATF) Stellantis, the automotive powerhouse formed from France’s PSA and the US-Italian Fiat Chrysler, has made the China...

Every facet of electric vehicles and EV batteries is being assessed by carmakers around the world keen to produce EVs that can compete with China's cheap EV models