Joint venture to build an all-new lithium iron phosphate (LFP) battery plant at Stellantis' Zaragoza, Spain site • Production is

Stellantis and CATL have announced plans to jointly build a 4.1 billion euro ($4.3 billion) lithium iron phosphate battery plant in Spain.

Stellantis and Chinese battery maker CATL will invest 4.1 billion euros ($4.33 billion) to build one of Europe's largest electric vehicle battery factories in Spain, encouraged by lower costs and government funding.