Stellantis and CATL's €4.1B Joint Venture to Build Spain's Largest LFP Battery Plant in Zaragoza

Dec 10, 2024, 10:08 AM

Stellantis NV and China's Contemporary Amperex Technology Co. Ltd. (CATL) have announced a 50-50 joint venture to invest up to €4.1 billion ($4.3 billion) to build a new electric vehicle battery plant in Figueruelas, Zaragoza, Spain. The facility aims to be the largest battery manufacturing plant in Spain, producing lithium iron phosphate (LFP) batteries with an annual capacity of up to 50 gigawatt-hours (GWh). Production is expected to commence by the end of 2026, creating approximately 3,000 jobs. The investment is part of Stellantis's strategy to secure access to electric vehicle batteries, reduce reliance on imports, and avoid tariffs on Chinese-made batteries. The plant is expected to be carbon neutral.