Automotive industry Stellantis and CATL invest billions in batteries in Spain
The Fiat group Stellantis and the Chinese battery giant CATL are investing several billion euros in a battery cell plant in Spain. A joint venture is to build a new battery factory for lithium iron phosphate (LFP) cells.
10.12.2024, 11:22
SDA
According to a statement on Tuesday, the companies are investing up to 4.1 billion euros in the project. Production at the Stellantis site in Zaragoza is scheduled to start at the end of 2026.
The factory could achieve an annual battery capacity of up to 50 gigawatt hours (GWh) in several expansion stages, according to the statement. The companies signed a letter of intent just over a year ago.
Stellantis, which includes car brands such as Fiat, Opel and Peugeot, intends to use the batteries to equip cars and SUVs in the so-called B and C segments - i.e. the small and compact class - with medium ranges. LFP batteries compete with the conventional lithium-ion cells used in car batteries: They are considered safer and cheaper to manufacture and are said to last longer, but have a lower energy density.
The factory's 50 gigawatt hours of battery capacity would be enough for over 900,000 Opel Mokka Electric cars, each with a battery capacity of 54 kilowatt hours (kWh). The joint venture is to be owned equally by Stellantis and CATL. The deal is expected to be completed in the course of 2025.
