CATL and Stellantis will build a €4.1bn lithium battery factory in Spain, expanding China’s manufacturing footprint on European soil and boosting the European carmaker’s pivot to electric vehicles.
The factory in Zaragoza, northeastern Spain, is scheduled to start production by late 2026 under a 50-50 joint venture between the world’s biggest battery maker and the fourth-largest carmaker, owner of the Peugeot, Jeep and Fiat brands.
Europe has tried to reduce its reliance on Chinese batteries by investing in developing the technology. But those efforts have stumbled, with its biggest battery hope Northvolt filing for Chapter 11 bankruptcy in the US.
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