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CALB to Invest $2.09 Billion in Portugal Gigafactory for EV Batteries
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Meterboost is the only Portuguese company to design, develop and produce complete Lithium energy solutions. We stand out for presenting a Portuguese product, with guaranteed quality
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Chinese power battery maker CALB (HKG: 3931) has began construction of its battery plant in Portugal, its first overseas factory, as it begins its efforts to add capacity overseas.
CALB Portugal battery factory to start construction this
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Main products: High-performance lithium-ion batteries are available from BMZ for a variety of uses, including power equipment, energy storage systems, and electric cars.
FAQs 6
Will a lithium battery factory be built in Portugal?
According to the latest report on February 21st, battery manufacturer CALB will invest 2 billion euros (approximately Yuan 15.1684 billion) in Sines, Portugal to build a lithium battery factory aimed at providing high-performance energy storage batteries for the European electric vehicle industry.
What's going on with a lithium-ion cell factory in Portugal?
To be more specific, the deal was signed with Global Parques, a subsidiary of the Agência para o Investimento e Comércio Externo de Portugal (Portuguese Agency for Investment and Foreign Trade, or AICEP). According to Agência Lusa, the plan is to build the lithium-ion cell factory in Sines, Setúbal.
Can Portugal build a fully integrated lithium supply chain?
Alongside Spain, Portugal is leveraging its abundant lithium deposits to build a fully integrated supply chain, covering: Strengthening Europe’s battery ecosystem by reducing reliance on Chinese manufacturers will enhance supply chain security and create a more resilient local production network for lithium-ion batteries.
Will CALB build a battery plant in Portugal?
CALB announced on November 3, 2022, that it signed a memorandum of cooperation with the Portuguese government to build its first production site in Europe. The company's battery project in Portugal was planned at an industrial zone near a port in Sines, which is located in the heart of European logistics, a CALB press release said at the time.
When will a lithium battery factory be built?
The project is expected to start construction this year and is scheduled to be completed in 2028. The factory is expected to have an energy storage production capacity of 15 GWh and will adopt the latest generation of lithium battery technology, committed to becoming an important supplier to the European electric transportation industry.
Which country has the largest battery plant in Europe?
In other words, CALB may have the largest battery plant in Europe, with a 90 GWh per year capacity. Although the deal is not legally binding yet, CALB seems pretty determined to get it done if the Portuguese government makes it possible.
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