Stellantis, BMW Eye Partnership With Tesla's Japanese Supplier To Establish EV Plants
Author: Anusuya Lahiri | April 04, 2023 12:05pm
- Stellantis N.V. (NYSE:STLA) and Bayerische Motoren Werke AG (OTC:BMWYY) are weighing a collaboration with Panasonic Holdings Corp (OTC:PCRFF) (OTC:PCRFY) to build electric-vehicle battery plants in North America.
- Tesla Inc (NASDAQ:TSLA) supplier Panasonic specializing in cylindrical batteries, churned out billions of such cells for its client, the WSJ reports.
- Cylindrical batteries can pack more power and are relatively safer. However, their smaller size entails higher costs and the potential for manufacturing defects.
- Panasonic and others are working on larger versions of cylindrical batteries that won the attention of car makers, the report cited Ram Chandrasekaran, who, until March, led road-transportation research at Wood Mackenzie.
- Recently the Japanese manufacturer has been planning an expansion in the U.S. and working on a more powerful cylindrical cell. Panasonic’s batteries have also drawn the attention of BMW. Also, political tensions have made it difficult for Chinese battery makers to operate in the U.S.
- Stellantis has shared plans to establish a third North American EV battery factory during the April-June quarter. Stellantis is talking to Panasonic as a possible partner for the third factory.
- BMW shared plans to build six new EV battery plants in Europe, China, and the North American free-trade area, including the U.S., Canada, and Mexico.
- Price Action: STLA shares traded lower by 1.43% at $17.92 on the last check Tuesday.
Posted In: BMWYY PCRFF PCRFY STLA TSLA