Stellantis N.V., a Dutch multinational automobile manufacturing corporation, and China's Contemporary Amperex Technology Co. Limited (CATL) have entered into an agreement to invest 4.1 billion euros in a joint venture to build a large-scale lithium iron phosphate battery (LFP) plant in Zaragoza (Spain). This is reported in the Stellantis press release.
The project for the construction of a carbon-neutral battery manufacturing plant involves several stages, taking into account investment plans. In particular, at the end of 2026, the plant in Zaragoza will launch production with a capacity of up to 50 GWh, subject to the development of the electricity market in Europe and continued support from the Spanish government and the EU.
The joint venture between CATL and Stellantis (50/50) will expand LFP production at a production site that is already a leader in clean and renewable energy and offer more durable and affordable passenger cars, crossovers and SUVs.
In November 2023, Stellantis and CATL signed a memorandum of understanding on the supply of battery cells and LFP modules for the production of electric vehicles in Europe and established long—term cooperation in two strategic areas - the development of a technological map to support Stellantis electric vehicles (BEV) and further strengthening the value chain of batteries.
CATL implements the most advanced production technologies in Europe at two existing plants in Germany and Hungary and aims to become a zero-carbon corporation by 2038.
The transaction is expected to be completed in 2025 in accordance with the usual regulatory conditions.
Stellantis N.V. is one of the main car manufacturers in the world. The company produces cars under the brands Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, etc. The company was formed in 2021 as part of the merger of Italian-American automaker Fiat Chrysler Automobiles and French Groupe PSA. The company employs 258,000 employees at manufacturing plants in 30 countries. The headquarters is located in Hoofddorp (Netherlands).
CATL is a Chinese manufacturer of fuel cells, lithium-ion, lithium iron phosphate and lithium polymer batteries for electric vehicles and energy storage systems. The company is one of the largest public companies in China. The headquarters is located in Ninde (China).
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