The move is part of the development of new technologies that will make fully electric vehicles more attractive than hybrids.
Automaker Stellantis, which controls brands such as Peugeot, Fiat and Chrysler, announced on Wednesday a new partnership with French state research agency CEA to develop a new generation of batteries for electric vehicles. The development is characterized by market circles as significant, as automakers around the world explore new battery manufacturing technologies with the aim of keeping the cost of electric vehicles down.
The initiatives come amid slower-than-expected demand growth for electric vehicles due to high borrowing costs, broader economic uncertainty and consumer preference for hybrid vehicles. Trying to deal with this situation, companies like Tesla have proceeded with price reductions or offer incentives in order to attract consumers to their showrooms. At the same time, analysts estimate that pressure will continue to be exerted to limit the cost of the entire construction and especially of the batteries. “We know that battery technology is at the cusp of change.
While we don’t know exactly when that will happen, we are determined to be at the forefront of this transition. Internally, we are making ongoing efforts, betting on different occasions as we explore a range of technologies,” he said. Ned Couric, Head of Engineering and Technology at Stellantis. “At the same time, we are working closely with technology companies, laboratories, universities and the world’s most distinguished research institutions, such as CEA.
We believe this collaboration will accelerate the arrival of important battery cell technologies, thus supporting our mission to we offer clean, safe and economical motoring propositions to our customers,” he added. Global electric vehicle sales are expected to rise to 16.6 million vehicles by 2024, up from 13.7 million in 2023, according to the International Energy Agency, with growth in China outstripping that of other regions. In June, Carlos Tavares, chief executive of Stellantis, said the synergies resulting from the 2021 merger between Fiat-Chrysler and France’s PSA, the company behind Peugeot, amounted to 8.4 billion euros. more than double the initial targets.
At the same time, Stellantis announced that it would aim to distribute higher dividends, up to 30%, in 2025, compared to the 25% it distributed in recent years, while it would return to its shareholders an amount of at least 7.7 billion euros, through dividends and share buybacks, in 2024.
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