Renault’s (RENA.PA), opens new tab electric vehicle unit Ampere said on Monday it would include lithium iron phosphate (LFP) technology in its plans to mass produce EVs, teaming up with LG Energy Solution (LGES) (373220.KS), opens new tab and CATL (300750.SZ), opens new tab to build a supply chain in Europe.
Western automakers are under pressure to expand their range of chemical battery technologies to meet the needs of all market segments amid fierce competition from their often cheaper Chinese rivals.
“This decision is an effective and cutting-edge response to market volatility and change in technologies,” Ampere said in a statement, adding that LFP batteries would equip “several” models of the Renault and Alpine brands over the next years.
The company also pledged to work towards the development of so-called cell-to-pack battery solutions aimed at boosting the range of its EVs, together with South Korea’s LGES.
