Spain Grants $146 Million to Stellantis-CATL Battery Project
The Spanish government has approved a €133 million ($146 million) subsidy for a proposed battery production facility developed by automaker Stellantis in partnership with Chinese battery manufacturer CATL. Located near Zaragoza in northeastern Spain, the project aims to support the country's ambition to become a leading European electric vehicle producer. The initiative involves a total investment of approximately €2.5 billion and is expected to create around 3,000 jobs. However, Stellantis clarified that the project remains subject to final regulatory approvals and is not yet ready for an official announcement. This development follows a non-binding agreement signed a year ago between the two companies to produce low-cost, iron-based batteries for B-class and C-class passenger vehicles in Europe. The move aligns with CATL's broader expansion strategy in Europe, which includes an operational plant in Thuringia, Germany, and a new facility under construction in Hungary. This funding highlights the intensifying competition and strategic partnerships shaping the European EV supply chain, as nations seek to secure domestic battery production capabilities amidst the global transition to electric mobility.
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Spain Grants $146 Million to Stellantis-CATL Battery Project
The Spanish government has approved a €133 million ($146 million) subsidy for a proposed battery production facility developed by automaker Stellantis in partnership with Chinese battery manufacturer CATL. Located near Zaragoza in northeastern Spain, the project aims to support the country's ambition to become a leading European electric vehicle producer. The initiative involves a total investment of approximately €2.5 billion and is expected to create around 3,000 jobs. However, Stellantis clarified that the project remains subject to final regulatory approvals and is not yet ready for an official announcement. This development follows a non-binding agreement signed a year ago between the two companies to produce low-cost, iron-based batteries for B-class and C-class passenger vehicles in Europe. The move aligns with CATL's broader expansion strategy in Europe, which includes an operational plant in Thuringia, Germany, and a new facility under construction in Hungary. This funding highlights the intensifying competition and strategic partnerships shaping the European EV supply chain, as nations seek to secure domestic battery production capabilities amidst the global transition to electric mobility.
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