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China's CATL forms joint venture with Stellantis to build electric vehicle battery factory in Spain
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FILE - Gao Huan, CTO of CATL's China E-car Business, introduces the latest Freevoy Super Hybrid Battery from Chinese battery manufacturer Contemporary Amperex Technology (CATL) during a launch event in Beijing, Thursday, Oct. 24, 2024. - photo by AP Photo/Ng Han Guan, File
BARCELONA, Spain (AP) — Chinese electric battery giant CATL and automaker Stellantis announced Tuesday that they will build a major battery factory in northern Spain. The partners said the plant will be located in Zaragoza and start producing lithium iron phosphate batteries by the end of 2026. The joint venture represents an investment of 4.1 billion euros ($4.3 billion), they said in a statement.