Spanish business community praises fresh Stellantis, CATL battery plant
Date
12/18/2024 4:08:35 AM
(MENAFN) The Spanish business community has responded positively to the announcement that multinational auto company Stellantis and Chinese battery producer CATL have formed a partnership to build a 4.1-billion-euro (approximately 4.3 billion U.S. dollars) battery plant in northeast Spain. The new plant, which will produce lithium iron phosphate (LFP) batteries, is set to be located in Zaragoza, within the region of Aragon. Stellantis and CATL have ambitious plans to have the facility operational by the end of 2026.
Jose Miguel Sanchez, managing director of the Zaragoza Chamber of Commerce, expressed that the investment would strengthen Aragon's automotive sector, which is already a key part of the region's economy. "The reaction has been very, very positive," Sanchez told Xinhua on Monday. He highlighted that the automotive industry in Aragon currently employs 35,000 people, with Stellantis' existing Figueruelas plant in Zaragoza accounting for about 4,500 of those jobs. The new battery plant is expected to create up to 3,000 additional jobs, further boosting local employment.
Sanchez also noted that the new investment will have a significant economic impact on Aragon's GDP, estimating an increase of about one and a half percent. Beyond GDP growth, the project will contribute to job creation and stimulate local consumption. The ripple effect of the plant's construction and operations is expected to enhance the region’s overall economic vitality, benefiting both the automotive sector and the wider community.
The collaboration between Stellantis and CATL is a major step toward expanding Spain’s role in the electric vehicle supply chain, as both companies aim to meet the growing demand for electric vehicle batteries in Europe. The new plant in Zaragoza marks a significant development for Spain’s automotive industry, which is evolving to align with global trends toward cleaner, more sustainable technologies.
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