By David Sachs

Stellantis has signed a memorandum of understanding with CATL for the supply of electric-vehicle batteries in the European market.

The Netherlands-based maker of Jeep and Dodge said Tuesday that the nonbinding agreement with the Chinese battery maker outlines a long-term agreement for the supply of lithium iron phosphate batteries. The deal could lead to a joint venture with equivalent contributions, Stellantis said.

The batteries will be used for European production, Stellantis said.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

November 21, 2023 01:38 ET (06:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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