Chinese manufacturer CALB is planning on building a lithium-ion battery factory in Portugal, the APA Portuguese environment agency said on Monday. Portugal has the largest reserves in Europe of lithium, the main element in the batteries that power electric cars.
The 36 projects will net the country over 2.7 billion euros and are part of the largest influx of such investment in Portugal since 2016. China Aviation Lithium Battery (CALB) will invest 2 billion euros in the state-of-the-art factory – its first in Europe.
A planned lithium battery factory in the port of Sines leads a raft of new foreign direct investment (FDI) projects secured by Portugal in 2023. The 36 projects will net the country over 2.7 billion euros and are part of the largest influx of such investment in Portugal since 2016.
China Aviation Lithium Battery (CALB) will invest 2 billion euros in the state-of-the-art factory – its first in Europe. Set to begin production in early 2026 with an initial annual capacity of 15 GWh, it will expand in 2028 to 45 GWh, with the possibility of doubling capacity in a third phase.
The massive 2-billion-euro factory being built by China Aviation Lithium Battery will be the company’s first in Europe. This file photo dated 24 July 2023 shows lithium-ion high-voltage battery components for electric vehicles and hybrid cars being assembled inside a factory – Photo by IM Imagery
APA approves €2 billion project of CALB (China Aviation Lithium Battery), with ‘more than 90 conditions’ Chinese group CALB (standing for China Aviation Lithium Battery) has received a favourable environmental impact assessment, with ‘dozens of conditions’, for its €2 billion project for a lithium battery factory in Sines.