The average price of lithium-ion battery packs has fallen the most in seven years, according to a BloombergNEF survey, in a development likely to accelerate price parity between electric vehicles and gasoline-powered cars.

Chinese electric battery company CATL and automaker Stellantis say they will build a major battery factory in northern Spain

The global market for electric vehicles is growing and with advancements in technology it’s only a matter of time before these vehicles start to gain traction in South Africa.

Chinese electric battery company CATL and automaker Stellantis say they will build a major battery factory in northern Spain.

A Stellantis joint venture with Samsung SDI has won a commitment from the U.S. Energy Department for up to a $7.54 billion loan to help build two electric vehicle battery plants in Kokomo, Indiana.

MADRID (Reuters) -Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($4.33 billion) to build one of Europe's largest electric vehicle battery factories in Spain, encouraged by lower costs and government funding.

Stellantis and Chinese battery giant CATL formed a strategic partnership to boost the European automotive industry. The goal was to strengthen the battery supply chain and develop technology for 100% electric vehicles.

Stellantis and CATL announced Tuesday that they will build a new battery plant capable of producing up to 50 gigawatt-hours of lithium iron phosphate