Deal for Spanish plant comes despite EU efforts to reduce reliance on Chinese technology
CATL and Stellantis will build a €4.1bn lithium battery factory in Spain, expanding China’s manufacturing footprint on European soil and boosting the European carmaker’s pivot to electric vehicles. The factory in Zaragoza, northeastern Spain, is scheduled to start production by late 2026 under a 50-50 joint venture between the world’s biggest battery maker and the fourth-largest carmaker, owner of the Peugeot, Jeep and Fiat brands.
The Chinese group, which is a key Tesla supplier, has been working to expand in Europe as tensions between Beijing and Washington threaten its growth plans in North America. CATL is also working with Elon Musk’s company as well as Ford to license its battery manufacturing technology for factories in Nevada and Michigan respectively.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China’s CATL to build $4.3bn battery factory with Stellantis in European expansionDeal for Spanish plant comes despite EU efforts to reduce reliance on Chinese technology
Read more »
CATL plans huge strategic pivot in bold move for batteriesGreen grids and off-the-shelf EV platforms
Read more »
TSMC clamps down and CATL goes for distanceThe inside story on the Asia tech trends that matter, from Nikkei Asia and the Financial Times
Read more »
UK start-up 9fin raises fresh capital for race in credit markets dataFounder of London-based company predicts winning research company could generate $1bn a year in revenue
Read more »
UK start-up raises fresh capital for race in credit markets dataFounder of London-based 9fin predicts winning research company could generate $1bn a year in revenue
Read more »
Taylor Swift’s Eras becomes highest-earning concert run in historyTour generates $2.1bn in revenues from 10mn tickets sold across 149 shows
Read more »