Stellantis: new battery plant project in Spain
(CercleFinance.com) - Stellantis announced on Tuesday that, together with its Chinese partner CATL, it plans to invest up to E4.
1bn in building a large-scale battery plant in Spain.
The car maker states that it intends to set up this new unit dedicated to the manufacture of lithium-iron-phosphate (LFP) batteries on the Stellantis site in Zaragoza (Spain), through the creation of a joint venture.
Production is scheduled to start at the end of 2026, with a view to reaching a capacity of 50 GWh, depending on developments in the European electricity market and the continued support of the Spanish authorities and the European Union.
The project aims to enable Stellantis to offer more high-quality, sustainable and affordable electric passenger cars, crossovers and SUVs in the B and C segments, with intermediate ranges.
The group explains that it has chosen to adopt a dual chemistry approach - based on both nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) technologies - while exploring innovative systems for its cells and battery packs.
Designed to be entirely carbon-neutral, the battery plant will be implemented in several phases and investment plans.
The transaction is expected to be finalised in 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
1bn in building a large-scale battery plant in Spain.
The car maker states that it intends to set up this new unit dedicated to the manufacture of lithium-iron-phosphate (LFP) batteries on the Stellantis site in Zaragoza (Spain), through the creation of a joint venture.
Production is scheduled to start at the end of 2026, with a view to reaching a capacity of 50 GWh, depending on developments in the European electricity market and the continued support of the Spanish authorities and the European Union.
The project aims to enable Stellantis to offer more high-quality, sustainable and affordable electric passenger cars, crossovers and SUVs in the B and C segments, with intermediate ranges.
The group explains that it has chosen to adopt a dual chemistry approach - based on both nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) technologies - while exploring innovative systems for its cells and battery packs.
Designed to be entirely carbon-neutral, the battery plant will be implemented in several phases and investment plans.
The transaction is expected to be finalised in 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.