On Dec.10th, 2024, announced by Stellantis group, Contemporary Amperex Technology Co. Limited (CATL) and Stellantis have unveiled a landmark agreement to establish a joint venture, committing up to €4.1 billion towards the construction of a state-of-the-art, large-scale lithium iron phosphate (LFP) battery manufacturing facility in Zaragoza, Spain. This venture is meticulously designed to achieve complete carbon neutrality, with its implementation unfolding through multiple phases and investment strategies.
Scheduled to commence operations by the close of 2026 at Stellantis' Zaragoza site, this cutting-edge facility aims to attain a maximum capacity of 50 gigawatt-hours (GWh), contingent upon the evolving landscape of the European electric vehicle market and ongoing backing from both Spanish and European Union authorities. This 50-50 joint venture will significantly enhance Stellantis' leading position in the European LFP market, empowering the automotive giant to introduce a broader range of high-quality, robust, and cost-effective battery-electric vehicles (BEVs) in the B and C segments, featuring mid-range capabilities.
Building on the foundation laid by a non-binding Memorandum of Understanding (MOU) signed in November 2023, CATL and Stellantis have solidified their commitment to the localized supply of LFP battery cells and modules for European electric vehicle production. This strategic alliance encompasses two pivotal areas: the development of a forward-thinking technology roadmap to propel Stellantis' advanced BEVs and the exploration of opportunities to fortify the battery value chain.
“Stellantis is committed to a decarbonized future, embracing all available advanced battery technologies to bring competitive electric vehicle products to our customers,” said Stellantis Chairman John Elkann. “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. I want to thank all stakeholders involved in making today’s announcement a reality, including the Spanish authorities for their continued support.”
“The joint venture has taken our cooperation with Stellantis to new heights, and 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,” said Robin Zeng, Chairman and CEO of CATL. “CATL’s goal is to make zero-carbon technology accessible across the globe, and we look forward to cooperating with our partners globally through more innovative cooperation models.”
CATL is bringing state-of-the-art battery manufacturing technology to Europe through its two plants in Germany and Hungary, which are already in operation. 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.
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders.
About CATL
Contemporary Amperex Technology Co., Limited (CATL) is a global leader in new energy technology innovation, committed to providing premier solutions and services for new energy applications worldwide. In June 2018, the company went public on the Shenzhen Stock Exchange with stock code 300750. In the year 2023, CATL’s EV battery consumption volume has ranked No.1 in the world for seven consecutive years, and it has ranked first in the market share of global energy storage battery shipment for three straight years. CATL also enjoys wide recognition by global EV and energy storage partners. Committed to making outstanding contribution to energy transition of mankind, CATL in 2023 announced its strategic goals of achieving carbon neutrality in core operations by 2025 and across the battery supply chain by 2035.
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