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Stellantis And Chinese Battery Giant CATL To Build A Factory In Spain
Stellantis and Chinese battery giant CATL have announced plans to jointly build a €4.1 billion lithium iron phosphate (LFP) battery factory in Spain.
The 50-50 joint venture could reach up to 50 gigawatt hours, depending on the evolution of the electric vehicle market in Europe and the necessary government support. The facility will be built in Stellantis’s town of Zaragoza in northeastern Spain and is expected to be ready for operation by the end of 2026.
Stellantis says the factory will allow the company to produce higher-quality and more affordable electric cars and SUVs. All of this comes at a time when European automakers are facing a major storm of challenges on the path to full electrification.
“This important joint venture with our partner CATL will bring innovative battery manufacturing to a manufacturing site that is already a leader in clean and renewable energy, helping to drive a 360-degree approach to sustainability,” said Stellantis Chairman John Elkann in a statement. Elkan also thanked the Spanish authorities for their support.
Stellantis and CATL, one of the world’s largest battery manufacturers, signed a non-binding memorandum of understanding in November last year for the local supply of LFP battery cells and modules for the production of electric vehicles in Europe.
“I believe that our leading-edge battery technology and outstanding operational expertise combined with Stellantis’ local business experience in Zaragoza will ensure a major success story in the industry,” said Robin Zeng, CEO and President of CATL.
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