Carmaker Stellantis joins forces with France's CEA for EV battery research [Yahoo! Finance Canada]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance Canada
French state's CEA research organisation to work on a next generation of battery cells for electric vehicles. WHY IT MATTERS: Carmakers around the world are exploring battery technologies to reduce the cost of electric vehicles (EVs). EV demand has grown more slowly than expected due to high borrowing costs, economic uncertainty and consumer preference for gasoline-electric hybrids. In response, Tesla and other EV brands have cut prices or offered other incentives to lure consumers to showrooms. ADVERTISEMENT Analysts have said the pressure to cut costs in manufacturing and batteries will continue. KEY QUOTE: "We know that battery technology is poised for change. While we don't know exactly how it will change, we are committed to be at the forefront of this transformation. Internally, we are working around the clock placing multiple bets and exploring various technologies," Stellantis Chief Engineering and Technology Officer Ned Curic said. "At the same time, we are
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