CATL wins another order for LiFePO4 lithium iron phosphate batteries
On November 21, Stellantis Group and CATL announced that they have signed a non-binding memorandum of understanding, which stipulates that CATL will supply cells and modules for lithium iron phosphate (LFP) batteries to Stellantis Group in Europe. , assisting Stellantis in the production of electric vehicles in the European market.
The MoU outlines that CATL and Stellantis Group will engage in long-term cooperation in two strategic areas: developing a bold technology roadmap to support the development of Stellantis’ cutting-edge pure electric vehicles; and actively exploring new cooperation opportunities to further enhance the battery value chain. At the same time, in order to further support the Stellantis Group’s ambitious electrification strategy and goals, the two parties are exploring the possibility of establishing a joint venture on a reciprocal model.
Stellantis Group stated that lithium iron phosphate battery technology has the characteristics of long life and high thermal stability, which will help Stellantis provide customers with high-quality, durable and affordable electric vehicles, which range from B-class to C-class cars, Crossovers and SUVs.
It is reported that as part of the Stellantis Group’s “Dare Forward 2030” strategic plan, the group’s electrification goal is: by 2030, all passenger cars sold by Stellantis in Europe will be pure electric vehicles, and all passenger cars and light trucks sold in the United States will be pure electric vehicles. 50% of them will be pure electric vehicles, and Stellantis plans to become a net-zero carbon emissions company by 2038.
Zeng Yuqun, Chairman and General Manager of CATL, said: “We are very pleased to take our partnership to a new level. With Stellantis’ long vehicle manufacturing experience and CATL’s advanced battery technology, I believe this cooperation will It is a decisive step for both parties to achieve the goal of carbon neutrality. CATL will continue to be committed to providing partners with more competitive and sustainable development solutions and making outstanding contributions to the global energy transformation.”
According to the latest data released by SNE Research, a Korean research institution, in the global new energy vehicle power battery market outside China from January to September, the installed capacity of power batteries reached 228.0GWh, a year-on-year increase of 54.9%. Among them, CATL’s global new energy vehicle power battery market share outside China has equaled that of South Korean battery giant LGES.
Specifically, from January to September, the installed capacity of CATL and LGES in the global battery market outside China were 64.0GWh and 64.1GWh respectively, with market shares of 28.1% each. Compared with the installed capacity in the same period in 2022, CATL’s growth rate is as high as 104.9%, and LGES’s growth rate is 49.2%.
With the local supply of lithium iron phosphate (LFP) battery cells and modules to Stellantis Group in Europe, CATL’s share of the overseas power battery market is expected to further increase.
