• BMW and Stellantis are said to be in discussions with Panasonic regarding the construction of battery factories.
• The plans in question would be built in North America.
• Stellantis has already announced the construction of two battery plants in North America, including one in Ontario.
Stellantis and BMW are reportedly in discussions with battery giant Panasonic about a possible partnership to build EV battery plants. The discussions involve setting up plants in North America.
The Wall Street Journal reported the news this week, citing people familiar with the matter and with the ongoing negotiations.
Electrification is making for some interesting and unexpected marriages. Given that automakers are spending billions to go electric, it's natural to see them partner with other groups to reduce the cost impact.
And since demand is expected to increase over the next few years, and authorities are strongly encouraging the sale of electric models, manufacturers must find solutions.
Of course, to build electric vehicles, you need batteries.
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Stellantis, the world's third-largest automotive company by revenue, has already announced the creation of two battery plants for electric vehicles in North America - one in Canada with LG Energy Solution Ltd. and the other in Indiana in the United States, with Samsung as a partner.
The company is also in talks with Panasonic for a third plant (possibly). Stellantis has declined to comment on the matter for now, according to Automotive News. The same goes for BMW, which was not willing to comment.
A Panasonic company spokesperson responded to Automotive News via email:
“We are looking at various growth strategies for our automotive battery business, but there is no further information we can share at this time beyond what we have already announced.”
Stay tuned.
