Renault EV unit announces partnership with CATL to build supply chain in Europe.

Renault's electric vehicle division,The latest real-time foreign exchange market Ampere, announced on Monday that it will introduce lithium iron phosphate (LFP) technology in its mass production of electric vehicles and collaborate with LG Energy Solution (LGES) and CATL to establish a supply chain in Europe.

Facing fierce competition from lower-priced Chinese rivals, Western automakers are under pressure to expand their chemical battery technologies to meet the demands of all market segments.

In a statement, Ampere said, "This decision is an effective and cutting-edge response to market volatility and technological changes," adding that LFP batteries will be equipped in several models of the Renault and Alpine brands in the coming years.

The company also committed to working with South Korea's LGES to develop "battery-to-pack" solutions aimed at enhancing the range of its electric vehicles.

In a separate statement, LGES said it had signed an agreement early on Tuesday to supply Renault with 39 gigawatt-hours of LFP pouch batteries, which will power about 590,000 vehicles, adding that these battery cells will be produced in Poland.

LGES stated that this marks the company's first supply agreement for LFP batteries for electric vehicles.

To reduce costs in producing affordable electric vehicles and avoid supply chain issues involving materials like cobalt, automakers are expanding the use of various types of battery chemistries, such as LFP batteries.

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