China’s CALB to Invest $2.09 Billion in EV Battery Factory in Portugal
On February 21, 2025, China’s CALB, one of the largest electric vehicle (EV) battery manufacturers in the world, announced its plans to invest €2 billion (approximately $2.09 billion) in a gigafactory located in Portugal. This facility, set to begin production in 2028, will be situated in Sines, roughly 100 kilometers (62 miles) south of Lisbon.
The factory is projected to have an annual production capacity of 15 gigawatt hours, which translates to about 187,000 EV batteries, primarily catering to the European market. CALB’s first factory in Europe is expected to generate 1,800 direct jobs and contribute over 4% to Portugal’s GDP once it reaches full operational capacity.
Portugal, in collaboration with neighboring Spain, aims to leverage its local lithium resources, striving to establish a comprehensive value chain encompassing mining, refining, cell and battery manufacturing, as well as battery recycling. London-based Savannah Resources anticipates commencing commercial lithium production at its Barroso project in northern Portugal by 2027. This Barroso deposit is recognized as the most significant source of spodumene, a lithium-bearing mineral, in Europe.
Portugal’s initiative aligns with Europe’s broader objective to diminish its reliance on countries like China for essential raw materials necessary for the green transition.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/calb-to-invest-2-09-billion-in-electric-vehicle-battery-factory-in-portugal/
