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.

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