Stellantis and the Chinese CATL announced this Tuesday the creation of a ‘joint venture’ for the construction of a battery plant – gigafactory— lithium iron phosphate (LFP) batteries in Zaragoza, with an investment of up to 4.1 billion euros.
The factory, which is expected to begin production at the end of 2026 at the Stellantis plant in the Aragonese region, could reach a capacity of up to 50 gigawatts/hour (GWh), depending on «the evolution of the electricity market in Europe» and the continued support of the authorities of Spain and the European Union.
«The 50:50 joint venture between CATL and Stellantis will boost Stellantis’ LFP offering (…) allowing the automaker to offer more high-quality, durable and affordable battery-electric passenger cars, crossovers and SUVs in the segments B and C with intermediate autonomies,” says the automotive group in a statement.
One of the most important investments in Spain
Company sources tell Europa Press that the investment in Zaragoza is one of the “most important” in the history of Stellantis in Spain.
The operation, subject to the approval of the regulatory authorities, is expected to be closed throughout 2025.
In 2023, the Chinese group CATL signed a first collaboration agreement with Stellantis for the supply of batteries with the possibility of jointly investing in their manufacturing.
In October, the Ministry of Industry resolved to grant 133 million euros to Stellantis Figueruelas within line A of Perte VEC III batteries. This subsidy is in addition to the 14 million euros from the Industrial Decarbonization Perte also announced in October.
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