On December 10, CATL and Stellantis announced the formation of a joint venture, with both companies holding a 50% stake. They will build a large-scale LFP battery factory in Zaragoza, Spain, with an investment of up to 4.1 billion euros (approximately $4.3 billion US). The plant is scheduled to begin production by the end of 2026, with an annual production capacity of up to 50 GWh. The facility will be designed to meet full carbon neutrality standards, and the investment plan is now progressing steadily.
The establishment of this joint venture will strengthen Stellantis’ competence in LFP battery technology in Europe, which will not only enable the company to enhance its presence in the B-segment and C-segment vehicle markets, but also offer consumers higher-quality, more durable, and more affordable electric cars, crossovers, and SUVs.
In November 2023, Stellantis and CATL signed a non-binding memorandum of understanding (MOU), focused on supporting Stellantis’ electric vehicle production in Europe by providing localized LFP battery cells and modules. The two companies also outlined two strategic cooperation directions for long-term partnership:
1) Developing an ambitious technological roadmap to support Stellantis’ advanced electric vehicle development; and
2) Exploring new collaboration opportunities to further enhance the battery value chain.
John Elkann, Chairman of Stellantis and interim CEO, said, “Stellantis is committed to a decarbonized future, embracing all available advanced battery technologies to bring competitive electric vehicle products to our customers. 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.”
Robin Zeng, Chairman and CEO of CATL, commented: “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. 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.”
CATL’s recently established factories in Germany and Hungary have begun operations, bringing advanced battery manufacturing technology to Europe. The new plant in Spain will enhance CATL’s technological capabilities in supporting clients to achieve their climate goals and accelerate the electric mobility and energy transformation in the European and global markets.
Source: WeChat Official Account—马里亚纳锂电
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