by Zhuang Jian
On December 10, 2024, Chinese battery maker CATL (Contemporary Amperex Technology Co., Ltd.) officially announced the construction of its third battery factory in Europe, a joint venture with Stellantis. The new plant, located in Zaragoza, Spain, will have an investment of 4.038 billion euros (approximately 30.8 billion yuan) and an annual capacity of 50 GWh for lithium iron phosphate (LFP) batteries, which will be supplied to Stellantis.
Both CATL and Stellantis hold a 50% stake in the venture. Stellantis, the world's fourth-largest automotive group, includes brands such as Peugeot, Citroën, Jeep, and Maserati. This Spanish facility will be CATL's third European production base, following investments in Germany and Hungary. The German factory is already operational, with a 14 GWh capacity, while the Hungarian plant is set to begin production in 2025 with a planned capacity of 100 GWh.
While CATL accelerates its global expansion, other Chinese battery companies are slowing their European investments. For example, SVOLT Energy terminated its European operations in October, and Rept Battero Energy has focused on Southeast Asia instead. CATL’s Spanish venture marks its only new overseas battery factory announcement this year.
