AMSTERDAM (NETHERLANDS) (ITALPRESS) – Stellantis and CATL announced today that they have reached an agreement to invest up to €4.1 billion in a joint venture to build a large-scale European lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. Designed to be completely carbon-neutral, the battery plant will be built in several phases and successive investment plans.With the goal of starting production by the end of 2026 at the Stellantis plant in Zaragoza, Spain, the plant could reach a capacity of 50 GWh, depending on the evolution of the electricity market in Europe and continued support from authorities in Spain and the European Union. The 50/50 joint venture between CATL and Stellantis will enhance Stellantis’ best-in-class LFP offering in Europe, enabling the automaker to offer premium, durable and affordable battery electric cars, crossovers and SUVs in B and C segments with intermediate range.In November 2023, Stellantis and CATL signed a non-binding Memorandum of Understanding (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: the creation of an ambitious technology roadmap to support Stellantis’ advanced battery electric vehicles (BEVs) and the identification of opportunities to further strengthen the battery value chain.”Stellantis is committed to achieving a decarbonized future through the use of all available advanced battery technologies in order to offer our customers competitive electric vehicle products,” said Stellantis President John Elkann. “This important joint venture with CATL will enable the production of innovative batteries in a plant that is already a leader in clean and renewable energy, contributing to the operation of an all-round sustainable approach. I would like to thank everyone who made this announcement possible, including the Spanish authorities for their continued support. “The joint venture has taken our collaboration with Stellantis to new levels. I believe that our state-of-the-art battery technology in addition to our exceptional operational know-how combined with Stellantis’ experience is an optimal choice. Our decades of experience in running commercial operations in Zaragoza will ensure an important success story in the industry,” said Robin Zeng, president and CEO of CATL. “CATL’s goal is to make zero-carbon technology accessible worldwide, and we are ready to work with our global partners through increasingly innovative models of cooperation. “CATL is bringing state-of-the-art battery manufacturing technology to Europe through its two plants in Germany and Hungary, both of which are already operational. The Spanish plant will enhance CATL’s ability to meet customers’ climate goals, further reaffirming its commitment to promoting electric mobility and the energy transition in Europe and the global market. Stellantis uses a dual chemistry approach-nickel manganese cobalt (NMC) and lithium iron phosphate (LFP)-to meet its customers’ needs and introduce innovative cell and battery pack technologies. Stellantis is working to become a carbon net zero company by 2038, all areas included, with a single-digit percentage offset of remaining emissions.The transaction is expected to close during 2025 and is subject to the usual regulatory conditions.According to a group spokesperson, “The joint venture with CATL illustrates Stellantis’ strong commitment to electrification in Europe and complements the ACC gigafactory project, which Stellantis has co-founded and supported since its inception in 2020.”
– Stellantis press office photo –
(ITALPRESS).
