Reported about 2 months ago
China's CATL has announced a joint venture with Stellantis to establish a major battery factory in Zaragoza, Spain, aiming to produce lithium iron phosphate batteries by the end of 2026. This €4.1 billion investment will focus on achieving carbon neutrality by leveraging Spain's renewable energy resources. The collaboration follows previous agreements to enhance battery production for electric vehicles in Europe, as the region strives to compete with Chinese manufacturers in the electric vehicle market.
Source: YAHOO