China's CATL, Stellantis to build EV battery factory in Spain

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

The plant, to be located in Zaragoza, will produce lithium-iron phosphate batteries by the end of 2026.

The project represents an investment of 4.1 billion euros (US$4.3 billion) and aims to achieve carbon neutrality by utilizing