The third-largest automaker in the world by revenue in 2022, Stellantis, recently made an announcement that could have a huge impact on the electric vehicle marketplace worldwide.
Ned Curic, technology chief at Stellantis, said at the company's new Battery Technology Center in Italy that the company plans to develop an EV battery that weighs half as much as current batteries, per Reuters.
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"So what I have in mind and a very hard goal for my team by 2030 is to change the battery weight to at least 50% lighter battery," Curic said at an event, as reported by MarketScreener.
Curic admitted, though, that he isn't quite sure how the company will achieve that goal.
"We will have to think about completely new materials, new chemistry, new way of replacing this heavy, heavy, heavy materials to something much lighter," Curic said.
While Stellantis may not yet know how it plans to achieve this goal, it's certainly putting forth the resources to try. Stellantis invested $43 million in the new battery facility, as MarketScreener reported, which will strengthen the company's capabilities to design, develop, and test every component of the batteries it manufactures, according to CleanTechnica.
Stellantis is also in the process of constructing another Battery Technology Center in Windsor, Ontario, Canada, per CleanTechnica. The company's global network of battery development facilities also includes six gigafactories.
The company, whose brands include Fiat and Jeep, also recently shared plans for a more affordable EV in the very near future. According to Fiat CEO Olivier Francois, a new economically priced EV will cost less than $27,000.
The upfront cost of many EVs is a main reason why many consumers don't consider buying one. A recent survey showed that 46% of buyers in the United States earning less than $30,000 a year cited the cost as a reason not to go that route.
Stellantis hopes to change that.
Curic said that the goal for Stellantis is to create "a vehicle that just about any member of our societies can afford to buy."
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