On December 10, Stellantis and CATL announced plans to invest up to €4.1 billion (4.3 billion USD) in a joint venture to construct a lithium iron phosphate (LFP) battery plant in Zaragoza, Spain.
The facility, expected to begin operations by late 2026, aims to reach a production capacity of up to 50 GWh, depending on market conditions and regulatory support from Spain and the European Union, the companies announced in a joint statement.
The joint venture between CATL and Stellantis is 50:50, and the battery plant will be implemented in several phases.
The company claims the project marks a significant step in Stellantis’ efforts to advance its electric vehicle (EV) production capabilities in Europe. The Zaragoza plant will focus on supplying affordable, durable battery systems for B- and C-segment vehicles, including passenger cars, crossovers, and SUVs.
This venture builds on a non-binding memorandum of understanding (MOU) signed in November 2023 between Stellantis and CATL. The agreement outlined plans for local LFP battery cell and module production in Europe and a long-term collaboration on advancing EV battery technology.
In 2023, Stellantis announced the acquisition of a 20% share in Chinese EV startup Leapmotor for €1.5 billion (1.58 billion USD). Stellantis received the exclusive right to sell Leapmotor EVs globally, excluding China. Former CEO Carlos Tavares announced that Leapmotor EVs will be built in Stellantis plants worldwide, including the US.
Stellantis is a multinational company based in the Netherlands that owns the brands Fiat, Jeep, Peugeot, Citroen, Alfa Romeo, Opel, RAM, and others.
Contemporary Amperex Technology Co., Limited (CATL) is the world’s largest battery maker. In 2024 (Jan – Nov), the company controlled a 46% market share in China, with 183.02 GWh of EV batteries installed.
