Chinese electric battery giant CATL and automaker Stellantis have announced plans to construct a significant battery factory in northern Spain. The joint venture will see the establishment of the plant in Zaragoza, with production of lithium iron phosphate batteries set to commence by the end of 2026. The partners disclosed that the project entails an investment of 4.1 billion euros ($4.3 billion) and emphasized their commitment to ensuring the plant's carbon neutrality, leveraging Spain's abundant renewable energy sources such as solar, wind, and water power.
This development follows the collaboration agreement reached between CATL and Stellantis in November 2023 to work together on battery production for electric vehicles in Europe. CATL, which already operates battery manufacturing facilities in Germany and Hungary, is a key player in the global electric vehicle battery market.
