Stellantis and CATL to Invest €4.1 Billion in Zaragoza for 50 GWh LFP Battery Plant

Dec 10, 2024, 08:09 AM

Stellantis NV and China's Contemporary Amperex Technology Co. Ltd (CATL) have announced a 50:50 joint venture to establish a new electric-vehicle battery plant in Zaragoza, Spain. The venture will see an investment of up to €4.1 billion, with the plant expected to produce lithium iron phosphate (LFP) batteries with a capacity of 50 GWh. The facility is slated to start production by the end of 2026, with the transaction expected to be completed within 2025. This move is seen as a strategic step to avoid potential tariffs on batteries, given CATL's position as a leading Chinese battery manufacturer.