Stellantis and Contemporary Amperex Technology Co., Limited (CATL) have just announced that they have reached an agreement to invest up to €4.1 billion in the creation of a joint venture for the construction, on a large scale, of a European lithium-iron-phosphate (LFP) battery plant at the Zaragoza site, Spain. Designed to be completely carbon neutral, the battery factory will be implemented in several phases and investment plans. Scheduled to begin production by the end of 2026 at the Stellantis site in Zaragoza, the plant could reach a capacity of up to 50 GWh, depending on the evolution of the electricity market in Europe and the continued support of the authorities Spanish and the European Union. “This important joint venture with our partner CATL will bring innovative battery production to a manufacturing site already recognized as a leader in clean and renewable energy, contributing to a 360-degree sustainable approach,” said John Elkann, Chairman from Stellantis. For his part, Robin Zeng, Chairman and CEO of CATL, is enthusiastic and affirms that “CATL’s goal is to make zero-carbon technology accessible worldwide, and we look forward to cooperating with our partners to on a global scale through more innovative collaboration models. The transaction is expected to be completed during 2025, subject to customary regulatory conditions.
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