Recently, CATL announced that it will cooperate with Stellantis to build a battery factory in Zaragoza, Aragon, Spain. The landing of this factory will be CATL's third European factory after the German factory and the Hungarian factory. The total investment scale of the battery factory is expected to be 4.038 billion euros, and the annual output of power batteries can reach 50GWh. The target customer of the product is Stellantis, and the total construction period is expected to be 4 years.
The cooperation between the two parties will be carried out in a reciprocal mode in terms of equity, that is, CATL Luxembourg, a subsidiary of CATL, and STLA Spain and STLA France, subsidiaries of Stellantis, will jointly invest in the establishment of a joint venture company, and invest in the construction of the battery factory with the joint venture as the main body. Although CATL and Stellantis each hold 50% of the shares of the joint venture, CATL has made it clear that the joint venture is controlled by it.
CATL said that this cooperation is in line with the company's global strategy, which will help further improve the company's international layout, thereby enhancing the company's sustainable profitability and core market competitiveness, which is in line with the interests of the company and all shareholders.
In fact, the plan for the two parties to cooperate in building a battery factory has been brewing for more than a year. CATL and Stellantis signed a strategic memorandum of understanding as early as November last year, stipulating that CATL will supply lithium iron phosphate cells and modules to the latter in Europe, and the two parties are exploring the possibility of establishing a joint venture in an equal model.
