A Significant Investment in the Future of Electric Vehicles

Stellantis NV, a leading automaker, and Contemporary Amperex Technology Co., Ltd. (CATL), a prominent Chinese electric vehicle battery manufacturer, have announced a groundbreaking joint venture. The two companies plan to invest up to €4.1 billion in a 50-50 partnership to construct a lithium iron phosphate (LFP) battery plant in Zaragoza, Spain.

This ambitious project aims to achieve an annual production capacity of 50 gigawatt-hours (GWh) and is set to commence operations by the end of 2026. The transaction is expected to be finalized in 2025, subject to standard regulatory approvals.

Robin Zeng, Chairman and CEO of CATL, expressed confidence in the venture, stating, "The joint venture has elevated our collaboration with Stellantis to unprecedented levels. With CATL's advanced battery technology and operational expertise, combined with Stellantis' extensive local experience in Zaragoza, we are poised for a significant success in the industry."