Stellantis, CATL to Build $4.3B EV Battery Plant in Spain

Stellantis, a multinational automotive corporation, and Contemporary Amperex Technology Co. Limited (CATL), a leading global battery manufacturer, have announced a joint venture to establish a battery cell manufacturing plant in Europe. This strategic partnership aims to secure a reliable supply of high-quality batteries for Stellantis’ electric vehicles and strengthen its position in the rapidly growing electric vehicle market.  

The new plant, expected to have an annual production capacity of 40 gigawatt-hours, will be in Spain. This investment underscores Europe’s growing importance as a hub for electric vehicle manufacturing and battery production.  

The collaboration between Stellantis and CATL brings together two industry leaders with complementary strengths. Stellantis, with its global reach and extensive experience in automotive manufacturing, will provide market expertise and distribution channels. CATL, as a pioneer in battery technology, will contribute its advanced battery manufacturing capabilities and supply chain expertise.  

This joint venture is a significant step forward in the automotive industry’s electrification. By securing a reliable supply of batteries, Stellantis can accelerate its transition to electric vehicles and reduce its reliance on external suppliers. Additionally, the partnership will contribute to developing a robust battery ecosystem in Europe, fostering innovation and job creation.

The establishment of this battery plant in Spain highlights Europe’s increasing importance as a key player in the global electric vehicle market. By investing in domestic battery production, European automakers can reduce their dependence on foreign suppliers and enhance their competitiveness.