Automaker Stellantis and Chinese battery giant CATL have announced plans to jointly build a €4.1 billion ($4.3 billion) lithium iron phosphate (LFP) battery plant in Spain. The 50-50 joint venture aims to boost Stellantis’ “best-in-class” LFP credentials in Europe, enabling the company to produce high-quality and affordable battery-electric passenger cars and SUVs.
The facility, located at Stellantis’ Zaragoza site in northeastern Spain, is expected to reach up to 50 gigawatt hours of production capacity. Construction is scheduled to be completed by the end of 2026.
Stellantis faces challenges in Europe’s transition to full electrification, including limited affordable options, slow charging point rollout, and potential US tariffs. The joint venture with CATL aims to address these challenges.
CATL CEO Robin Zeng stated that the company’s cutting-edge technology and operational expertise combined with Stellantis’ local experience will ensure a major success story in the industry. The partnership is part of CATL’s goal to make zero-carbon technology accessible globally.
Source: https://www.cnbc.com/2024/12/10/stellantis-and-catl-to-build-4point3-billion-ev-battery-plant-in-spain.html