Automaker now has agreements with five battery suppliers
Expects to need 130 GWh of capacity by 2025
Stellantis has signed one of its first EV battery and component deals. An announcement from Svolt Energy Technology, a Chinese electric component manufacturer that is in the process of building a factory in Germany, said that it will be a supplier to the automaker.
According to the announcement, Svolt will supply lithium-ion batteries to Stellantis beginning in 2025. They will also produce and supply battery management systems to the automaker. Svolt will use production capacity in China as well as some of its under-production capacity in Europe to meet the needs of the automaker.
Last week, Stellantis announced that it planned to build four flexible EV platforms offering estimated ranges from 500-800 km. As part of that, Stellantis said it would need more than 130 GWh of battery capacity or supply by 2025, doubling that by 2030.
Svolt’s announcement did not say how much of this need it expected to supply.
A report from Automotive News states that this deal gives Stellantis five sources of battery cells including CATL, Automotive Cell Company, BYD, LG Energy, and Svolt. Automakers including Stellantis are working to diversify their EV supplier bases to help ensure a consistent supply of battery and electronics to meet the expected growth in demand for EVs.