Will stellantis and CATL build a lithium phosphate battery plant in Spain?

Automaker Stellantis and Chinese battery giant CATL on Tuesday announced plans to jointly build a 4.1 billion euro ($4.3 billion) lithium iron phosphate (LFP) battery plant in Spain.

Will stellantis build a battery factory in Spain?

Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($4.33 billion) to build one of Europe's largest electric vehicle battery factories in Spain, encouraged by lower costs and government funding.

Where will CATL & stellantis build a battery factory?

(AP Photo/Ng Han Guan, File) BARCELONA, Spain (AP) — Chinese electric battery company CATL and automaker Stellantis will build a major battery factory in northern Spain, the partners announced Tuesday. They said the plant will be located in Zaragoza and start producing lithium iron phosphate batteries by the end of 2026.

Where are electric cars made in Spain?

In Spain, Stellantis group has car factories in Zaragoza, Vigo and Madrid. The production of electric vehicles in Spain has risen from just 16,000 models in 2019 to 323,000 in 2023, but that is still 13% of the total output of 2.4 million vehicles produced, according to ANFAC, the Spanish Association of Automobile and Truck Manufacturers.

Are stellantis & CATL collaborating on LFP battery production in Europe?

Stellantis and CATL, one of the world’s biggest battery producers, signed a non-binding memorandum of understanding in November last year for the local supply of LFP battery cells and modules for electric vehicle production in Europe.

Will CATL & stellantis build electric cars in Europe?

The announcement comes after CATL and Stellantis agreed in November 2023 to collaborate on fabrication of batteries to help build electric cars in Europe. European carmakers are struggling to keep up with their Chinese counterparts in electric cars, a key pillar of the green transition that the European Union is pursuing.