Chinese electric battery company CATL and automaker Stellantis will build a major battery factory in northern Spain, the partners announced Tuesday. They said the plant will be located in Zaragoza and start producing lithium iron phosphate batteries by the end of 2026.

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,

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.