Summary
Stellantis and China’s CATL will invest $4.33 billion (€4.1 billion) to build one of Europe’s largest EV battery factories in Spain.
The Zaragoza-based plant aims to produce 50 GWh of batteries annually by 2026, enough to power 700,000 cars daily.
Spain’s renewable energy potential and government subsidies were key factors in securing the investment.
Automotive giant Stellantis and China’s leading battery manufacturer CATL have announced a $4.33 billion (€4.1 billion) joint investment to build one of Europe’s largest electric vehicle (EV) battery factories in Zaragoza, Spain. The plant, expected to be operational by late 2026, will supply lithium iron phosphate batteries for small and mid-sized EVs, marking a critical step toward strengthening Europe’s EV supply chain.