By Nick Carey
LONDON (Reuters) – With electric car sales soaring and regulations increasingly favouring zero-emission vehicles, a flurry of announcements on Monday showed how the global auto industry has kicked into a higher gear as it races to speed past the fossil-fuel car era.
As part of its own 30 billion euro ($34.7 billion) electrification plan Stellantis – born out of a merger of PSA and Fiat Chrysler earlier this year – said it had entered a preliminary agreement with battery maker LG Energy Solution to produce battery cells and modules for North America, where the world’s No. 4 automaker expects more than 40% of its U.S. sales will be electric vehicles (EVs) by 2030.
That follows a recent announcement that Daimler AG will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), founded in 2020 by Stellantis and TotalEnergies in 2020.
Carmakers are racing to