Stellantis & Infineon sign agreement to source chips for EV's

Stellantis has signed a non-binding agreement with German chipmaker Infineon for a multi-year supply of semiconductors. Infineon will reserve production capacity and will supply the power semiconductors directly to Stellantis suppliers in the second half of the decade. Over 1 billion euros worth of chips could be involved, Infineon said in a statement on Monday. The chips would be meant for electric vehicles under the Stellantis brands, Infineon said. Stellantis plans to convert its brands in Europe into all electric brands by the end of the decade, ahead of the European Union’s plan to ban internal combustion engines by 2035 by requiring all new cars sold from then to produce zero emissions. Chip shortages over the past couple of years have forced global automakers to cut back on production. (Source – Automotive News)