On December 10, CATL and Stellantis Group jointly announced that they will each hold a 50% stake in a joint venture to build a large lithium iron phosphate (LFP) battery factory in Zaragoza, Spain, with a total investment of up to 4.1 billion euros. The factory is scheduled to begin production by the end of 2026, with an annual capacity of up to 50 GWh. The factory will be designed to meet full carbon-neutral standards, and the investment plan is progressing steadily.
The establishment of this joint venture will enhance Stellantis' advanced LFP battery capabilities in Europe, supporting its continued focus on the B-segment and C-segment vehicle markets. The collaboration aims to provide consumers with higher quality, more durable, and more affordable electric sedans, crossovers, and SUVs.
Stellantis Group, one of the world’s leading automakers, is committed to offering eco-friendly, safe, and affordable mobility solutions. In November 2023, Stellantis and CATL signed a non-binding memorandum of understanding aimed at supporting Stellantis’ electric vehicle manufacturing in Europe by providing localized LFP cells and modules. The two companies also announced their long-term cooperation in two strategic areas: first, developing an ambitious technology roadmap to support Stellantis’ advanced electric vehicle growth; second, exploring new partnership opportunities to further enhance the battery value chain.
John Elkann, Chairman and Interim CEO of Stellantis, stated: "We are committed to a carbon-neutral future, embracing all available advanced battery technologies to bring competitive electric vehicle products to consumers. This joint venture with CATL will bring innovative battery production to a site already recognized as a leader in clean and renewable energy manufacturing, helping drive sustainable production methods."
Zeng Yuqun, Chairman and CEO of CATL, said: "This partnership takes our collaboration with Stellantis to a new level. With CATL’s advanced battery technology and excellent operational expertise, combined with Stellantis’ decades of localized business experience in Zaragoza, I believe this project will become a significant success story for the industry. CATL’s goal is to promote zero-carbon technology globally, and we look forward to more innovative collaborations with global partners."
CATL’s two newly constructed factories in Germany and Hungary are already operational, bringing advanced battery manufacturing technology to Europe. The newly announced factory in Spain will further strengthen CATL’s technological capabilities in supporting clients to achieve their climate goals and accelerate the transition to electric mobility and energy transformation in Europe and global markets.
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