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.

China's Contemporary Amperex Technology (CATL), the largest maker of batteries for electric vehicles (EVs), is building its third plant in Europe through a joint venture with Fiat owner Stellantis, stepping up its overseas expansion to overcome higher tariffs.

CATL and Stellantis have entered a joint venture to establish a EUR4.038 billion (approx. US$4.25 billion) battery plant in Zaragoza, Spain, with each party holding a 50% stake. As reported by , this will be CATL's third large-scale production facility in Europe,

Chinese battery giant CATL and automaker Stellantis announced a joint venture Tuesday to establish a major electric vehicle battery factory in northern Spain

Stellantis and CATL have announced an investment of up to $4.33 billion to establish a low-cost EV battery manufacturing facility in Spain.

In November 2023, Stellantis and CATL signed a nonbinding deal for the local supply of LFP battery cells and modules for EV production in Europe and established a long-term collaboration on creating a bold technology roadmap to support Stellantis' advanced battery EVs and identifying opportunities to further strengthen the battery value chain.

"Stellantis, CATL form JV for EV battery factory in Spain" was originally created and published by Just Auto, a GlobalData owned brand.

MADRID (Reuters) -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, they said on Tuesday.

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