Stellantis and CATL will invest 4.1 billion euros in an LFP battery JV in Spain

10 December 2024, 16:11:47

Stellantis and CATL today announced they have reached an agreement to invest up to €4.1 billion to form a joint venture that will build a large-scale European lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. Designed to be completely carbon neutral, the battery plant will be implemented in several phases and investment plans.

Targeted to start production by end of 2026 at Stellantis’ Zaragoza, Spain site, the facility could reach up to 50 GWh capacity, subject to the evolution of the electrical market in Europe and continued support from authorities in Spain and the European Union. The 50-50 joint venture between CATL and Stellantis will boost Stellantis’ best-in-class LFP offer in Europe enabling the automaker to offer more high-quality, durable and affordable battery-electric passenger cars, crossovers and SUVs in the B and C segments with intermediate ranges.

In November 2023, Stellantis and CATL signed a non-binding MOU for the local supply of LFP battery cells and modules for electric vehicle production in Europe and established a long-term collaboration on two strategic fronts: creating a bold technology roadmap to support Stellantis’ advanced battery electric vehicles (BEV) and identifying opportunities to further strengthen the battery value chain.

CATL is bringing state-of-the-art battery manufacturing technology to Europe through its two plants in Germany and Hungary, which are already operational. The Spanish facility will enhance its capabilities to support customers’ climate goals, further underscoring its commitment to advancing e-mobility and energy transition efforts in Europe and the global market.

Stellantis is employing a dual-chemistry approach – lithium-ion nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) – to serve all customers and exploring innovative battery cell and pack technologies. Stellantis is on track to becoming a carbon net zero corporation by 2038, all scopes included, with single-digit percentage compensation of remaining emissions.

The transaction is expected to close in the course of 2025 and is subject to customary regulatory conditions.

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