CALB to invest $2.1B in EV battery factory in Portugal
The factory in Sines will produce lithium batteries for EVs with a total annual capacity of 15 gigawatt hours. The unit is expected to create 1,800 direct jobs, Chinese battery maker CALB said.
Chinese battery maker CALB has announced an investment of 2 billion euros (USD 2.09 billion) in a gigafactory in Portugal which may start production in 2028.
The factory in Sines will produce lithium batteries for EVs with a total annual capacity of 15 gigawatt hours.
The factory, CALB’s first such facility in Europe, is expected to create 1,800 direct jobs. Both Spain and Portugal hope that the lithium deposits in the countries will lure companies to invest in the entire battery manufacturing and cycling value chain.
CALB, one of the world’s largest producers of lithium-ion batteries, plans to construct five buildings on a 92-hectare plot for the production of electrodes and cells, assembly, packaging and more, as well as a 5-kilometre high-voltage line. No date has been set for the start of construction, although some media reports indicate it could begin in the second quarter of 2025.
The Sines facility in the district of Setúbal could represent more than 4% of Portugal’s national GDP when it reaches full production capacity in 2028, CALB said.
“Our factory will not only create new jobs but will also place Portugal at the forefront of the production of batteries for electric vehicles in Europe,” president of the Board of Directors of CALB, Liu Jingyu, said.
CALB said the launch of the project “represents a decisive step in CALB’s commitment to innovation and technological leadership in the new energy sector, also reinforcing its responsibility on the path to energy security, economic growth and sustainable development.”
