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Renault's electric vehicle unit, Ampere, has partnered with LG Energy Solution (LGES) and CATL to enhance battery technology. This collaboration aims to improve the performance and sustainability of electric vehicles, leveraging the expertise and advanced technology of both LGES and CATL. Through these partnerships, Renault seeks to strengthen its position in the EV market and deliver better battery solutions for its electric vehicles.
Boston Brand Media brings you the latest news - Renault's electric vehicle unit, Ampere, announced on Monday that it plans to incorporate lithium iron phosphate (LFP) technology in its mass production of EVs. To achieve this, Ampere is partnering with LG Energy Solution (LGES) and CATL to establish a supply chain in Europe.
Western automakers are facing increasing pressure to diversify their chemical battery technologies to cater to various market segments, especially in light of intense competition from often more affordable Chinese competitors.
"This decision is an effective and cutting-edge response to market volatility and changes in technologies," Ampere said in a statement. They added that LFP batteries would be used in "several" models of the Renault and Alpine brands over the coming years.
The company also committed to developing cell-to-pack battery solutions with South Korea's LGES to enhance the range of its EVs.
Boston Brand Media also found that, in a separate statement, LGES announced early on Tuesday that it had signed a deal to supply 39 gigawatt hours of LFP pouch-type batteries to Renault, enough to power about 590,000 vehicles. The battery cells will be produced in Poland.
This agreement marks the first LFP battery supply deal for EV use for LGES. Automakers are increasingly using different types of battery chemistry, such as LFP, to reduce costs and avoid supply chain issues related to materials like cobalt.
LGES mentioned that the contract value had not been confirmed, but the contract period is set between the end of 2025 and December 31, 2030. Following the announcement, LGES shares rose by as much as 4.3% on Tuesday morning but were trading only 0.4% higher by 0011 GMT. Meanwhile, South Korea's benchmark KOSPI index was down 0.3%.
For questions or comments write to writers@bostonbrandmedia.com
Source: Reuters
