$4bn for Spanish battery gigafactory
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European car maker Stellantis and CATL of China are to invest up to €4.1bn in a joint venture battery gigafactory in Spain.
The large-scale gigafactory in Zaragoza, Spain, will build lithium iron phosphate (LFP) batteries for the automotive market using CATL technology and starting production by end of 2026.
The plant could reach up to 50 GWh capacity, subject to the evolution of the electrical market in Europe and continued support from authorities in Spain and the European Union.
In November 2023, Stellantis and CATL signed a non-binding MOU for the local supply of LFP battery cells and modules for electric vehicle production in Europe and established a long-term collaboration on two strategic fronts: creating a technology roadmap to support Stellantis’ advanced battery electric vehicles (BEV) and identifying opportunities to further strengthen the battery value chain.
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Stellantis is employing a dual-chemistry approach with lithium-ion nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) for all its brands and exploring new battery cell and pack technologies. It has also invested in startups developing sodium technology with Timat and lithium sulfur battery technology with Zeta Energy.
CATL already has two plants in Europe, in Germany and Hungary, which are already operational, and the Spanish battery gigafactory will help to avoid import tariffs as the global trade war over electric vehicles intensifies.
“Stellantis is committed to a decarbonized future, embracing all available advanced battery technologies to bring competitive electric vehicle products to our customers,” said Stellantis Chairman John Elkann. “This important joint venture with our partner CATL will bring innovative battery production to a manufacturing site that is already a leader in clean and renewable energy, helping drive a 360-degree sustainable approach. I want to thank all stakeholders involved in making today’s announcement a reality, including the Spanish authorities for their continued support.”
“The joint venture has taken our cooperation with Stellantis to new heights, and I believe our cutting-edge battery technology and outstanding operation knowhow combined with Stellantis’ decades-long experience in running business locally in Zaragoza will ensure a major success story in the industry,” said Robin Zeng, Chairman and CEO of CATL. “CATL’s goal is to make zero-carbon technology accessible across the globe, and we look forward to cooperating with our partners globally through more innovative cooperation models.”
The transaction is expected to close in the course of 2025 and is subject to customary regulatory conditions.
www.stellantis.com; www.catl.com
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