On December 10th, Stellantis Group announced that it has reached an agreement with CATL to invest up to 4.1 billion euros to establish a joint venture to build a large lithium iron phosphate battery factory in Zaragoza, Spain. The factory plans to start production by the end of 2026, with a planned annual production capacity of 50 gigawatt hours. Depending on customary regulatory conditions and approvals, it is expected that this transaction will be completed and delivered within 2025.