Stellantis, CATL to Build $4.3B EV Battery Plant in
Stellantis, a multinational automotive corporation, and Contemporary Amperex Technology Co. Limited (CATL), a leading global battery
Spain is a clear beneficiary of this mixed situation. Having its own battery factory with low-cost LFP cells is a real competitive advantage for the three Stellantis plants in Zaragoza, Vigo and Madrid – especially as Stellantis has already announced that it will build small electric cars based on the upcoming STLA Small platform in Spain.
REUTERS/Tyrone Siu Purchase Licensing Rights FIGUERUELAS, Spain, Nov 26 (Reuters) - China's CATL (300750.SZ) will train up to 4,000 workers to operate what will be Spain's biggest battery plant, executives said on Wednesday at a groundbreaking ceremony for the joint venture between the battery maker and Stellantis (STLAM.MI).
Spain, Europe's second-largest carmaker, is positioning itself as a battery hub thanks to lower labour costs and industrial energy prices that are about 20% below the EU average. Three more plants are planned, including projects by Envision AESC, Volkswagen's (VOWG.DE) PowerCo and InoBat.
(UPDATE BELOW) The new LFP battery production plant from Stellantis and CATL is scheduled to go into operation at the end of 2026. The goal is an annual capacity of up to 50 GWh in a later expansion stage.
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