China’s CATL to build US$4.3 billion EV battery plant in Spain with Fiat owner Stellantis

The parties have agreed to spend €4.1 billion (US$4.3 billion) to build the factory in Zaragoza in northeastern Spain with a capacity to produce 50 gigawatt-hours (GWh) of batteries annually, according to a statement. One GWh can supply to 13,000 EVs with a driving range of 500km.

“The joint venture has taken our cooperation with Stellantis to new heights,” founder and chairman Robin Zeng Yuqun said in the statement late Tuesday. “Our cutting-edge battery technology and outstanding operation know-how, combined with Stellantis’ decades-long experience in running business locally, will ensure a major success story.”

The venture in Spain will make lithium iron phosphate (LFP) batteries for affordable EVs, crossovers and sport-utility vehicles with an intermediate range. Stellantis, which also owns Jeep and Alfa Romeo, said the joint venture received support from the Spanish authorities to build the plant, without elaborating.