Wednesday saw Stellantis, which owns Peugeot, Fiat, and Chrysler, combine with the French state’s CEA research organization to develop electric vehicle battery cells
On Wednesday, Stellantis, the automobile manufacturer that operates Peugeot, Fiat, and Chrysler, disclosed an agreement with the French government’s CEA research organization to collaborate on developing the next iteration of battery cells for electric vehicles.
To mitigate the expense of electric vehicles (EVs), automobile manufacturers worldwide are investigating battery technologies.
The growth of EV demand has been slower than anticipated due to high financing costs, economic uncertainty, and consumer preference for gasoline-electric hybrids.
Tesla and other electric vehicle manufacturers have responded by reducing prices or providing additional incentives to entice consumers to visit their showrooms.
The pressure to reduce costs in manufacturing and batteries will persist, according to analysts.
“We know that battery technology is on the brink of a transformation.”
We are dedicated to being at the forefront of this transformation despite still determining the precise nature of the changes. Ned Curic, Stellantis’ Chief Engineering and Technology Officer, stated, “We are conducting internal research and placing multiple bets at any given time.”
Simultaneously, we are forging partnerships with the most esteemed research institutions worldwide, including CEA, universities, laboratories, and tech firms.
He stated, “We are confident that this partnership will expedite the introduction of disruptive battery cell technology, thereby advancing our objective to provide our customers with clean, safe, and affordable mobility.”
According to the International Energy Agency, the global sales of electric vehicles (EVs) are anticipated to increase from 13.7 million in 2023 to 16.6 million this year. China is expected to experience a faster growth rate than other regions.
Stellantis CEO Carlos Tavares stated in June that the synergies from the 2021 merger between Fiat-Chrysler and Peugeot maker PSA, which established Stellantis, total 8.4 billion euros ($9 billion) annually, which is more than double the initial target.
Stellantis also announced that it would target the upper range of its 25% to 30% dividend payout policy in 2025, as opposed to the 25% paid in recent years.
Additionally, the company will provide shareholders with a minimum of 7.7 billion euros ($8.31 billion) in dividends and buybacks this year.
