China’s CATL and Dutch-based Stellantis have broken ground on a €4.1 billion ($4.75 billion) lithium iron phosphate (LFP) battery plant in Spain’s Aragon region, one of the largest Chinese investment projects in the country. The facility will run entirely on renewable energy and is scheduled to start production by the end of 2026. The joint venture plans annual capacity of up to 50 GWh, supplying LFP batteries for electric vehicles and aiming to achieve full carbon neutrality in its operations. 50 GWh (50,000,000 kWh) is equivalent to the electricity used by 50 million households in one hour, or enough to charge about one million electric vehicles with 50 kWh batteries. [Yicai, in Chinese]
Related
