Stellantis is exploring a partnership with China’s CATL to build low-cost electric car batteries in Europe, in a move that would increase the affordability of its electric vehicles but deepen its reliance on Chinese battery technology.
The two businesses have struck a supply agreement for batteries, and are in talks that may lead to a 50-50 manufacturing joint venture in the region, they said on Tuesday.
The deal comes despite repeated warnings from Stellantis chief executive Carlos Tavares about the risk to Western carmakers from Chinese brands and technology and reflects the pressure the carmaker faces to lower the cost of its electric cars.
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