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Dodge maker Stellantis and China's CATL team up to build $4.3 billion EV battery plant in Spain
Stellantis and CATL have announced plans to jointly build a 4.1 billion euro ($4.3 billion) lithium iron phosphate battery plant in Spain.
The 50-50 joint venture could reach up to 50 gigawatt hours, subject to the evolution of the market for electric vehicles in Europe and requisite government support. "This important joint venture with our partner CATL will bring innovative battery production to a manufacturing site that is already a leader in clean and renewable energy, helping drive a 360-degree sustainable approach," Stellantis Chairman John Elkann said in a statement. "I believe our cutting-edge battery technology and outstanding operation knowhow combined with Stellantis' decades-long experience in running business locally in Zaragoza will ensure a major success story in the industry," Robin Zeng, CEO and chairman of CATL, said in a statement.
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