Contemporary Amperex Technology Co., Limited (CATL), a Chinese new energy technology company, and Stellantis, a multinational automotive group headquartered in the Netherlands, announced on the 10th their plan to jointly establish a super battery factory in Zaragoza, northeastern Spain.
From XINHUA
Contemporary Amperex Technology Co., Limited (CATL), a Chinese new energy technology company, and Stellantis, a multinational automotive group headquartered in the Netherlands, announced on the 10th their plan to jointly establish a super battery factory in Zaragoza, northeastern Spain. The total investment is projected to reach €4.1 billion.
According to a statement from CATL, the project will be developed as a joint venture, with equal contributions from both companies. The new factory will produce lithium iron phosphate batteries for electric vehicles and aims to achieve full carbon neutrality. Production is scheduled to commence by the end of 2026.
The statement highlighted that this joint venture will enable Stellantis to produce advanced lithium iron phosphate battery products, facilitating the manufacturing of more "high-quality, durable, and affordable" electric passenger cars, crossovers, and SUVs.
Spanish Prime Minister Pedro Sánchez expressed his satisfaction with the conclusion of the project in a social media post on the 10th.
On the 9th, Sánchez met with CATL Chairman Zeng Yuqun at the Spanish Prime Minister's office. Sánchez noted that the Spanish government has invested over €5.5 billion in public funds for the reindustrialization of the automotive sector. Zeng emphasized the importance of collaborating on net-zero emission projects in Spain to combat climate change.