Stellantis and CATL are investing €4.1 billion in a joint venture to build a battery plant in Spain

From Nasdaq: 2024-12-12 09:43:00

Stellantis N.V. and CATL are investing up to €4.1 billion in a joint venture to build a carbon-neutral lithium iron phosphate (LFP) battery plant in Spain by late 2026. The plant could produce up to 50 GWh of batteries based on market demand and support from authorities, strengthening Stellantis’ electric vehicle offerings in Europe.

CATL will bring its expertise in battery manufacturing to Europe with the new Spanish plant, contributing to the region’s e-mobility and climate goals. Stellantis plans to use both LFP and lithium-ion technologies for its battery strategy, aiming to achieve carbon net-zero status by 2038 through innovative designs and collaborations. The deal is expected to close by 2025 pending approvals.

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Read more at Nasdaq: Stellantis & CATL to Build EUR4.1B LFP Battery Plant in Spain