According to the latest report, CATL will officially commence construction of Spain's largest battery plant this Wednesday local time. This major project involves a total investment of €4.1 billion (approximately Yuan 33.6 billion) and is jointly funded by CATL and global automaker Stellantis.
The plant will be located in the town of Figueruelas in the Aragon Autonomous Region. The project has already received over €300 million in funding support from the European Union and is expected to be completed and operational by the end of 2026.
According to trade unions, the construction phase will involve around 2,000 Chinese workers, and the project will subsequently create approximately 3,000 local jobs while providing technical training.
As the second-largest automotive producer in Europe, Spain is actively positioning itself as a European battery manufacturing hub, leveraging its lower labor costs and industrial electricity prices that are about 20% lower than the EU average. Besides CATL, companies such as Envision AESC, PowerCo, and InoBat also plan to establish factories locally, though technical capabilities remain the core challenge for localization.
Edited by Cassie Li, lixiangying@mysteel.com
