Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Tesla, Inc. (TSLA) - free report >>
Dorman Products, Inc. (DORM) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you accept our Privacy Policy and Terms of Service, revised from time to time, and you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla, Inc. (TSLA) - free report >>
Dorman Products, Inc. (DORM) - free report >>
Image: Bigstock
Stellantis & CATL to Build EUR4.1B LFP Battery Plant in Spain
Stellantis N.V. (STLA - Free Report) and CATL have agreed to invest up to €4.1 billion to establish a joint venture for a large-scale lithium iron phosphate (LFP) battery plant in Zaragoza, Spain. This carbon-neutral facility will be developed in phases and is planned to begin production by late 2026. The plant’s capacity could reach up to 50 GWh, contingent on the evolution of Europe's electric market and ongoing support from Spanish and European Union authorities.
The 50-50 partnership aims to strengthen Stellantis’ LFP offerings in Europe, enabling the production of more affordable, durable and high-quality battery-electric vehicles (BEVs) across the B and C segments, including passenger cars, crossovers and SUVs.
In November 2023, Stellantis and CATL signed a non-binding memorandum of understanding to locally supply LFP battery cells and modules for EV production in Europe. This collaboration includes creating an advanced technology roadmap for Stellantis’ BEVs and identifying ways to enhance the battery value chain.
CATL will bring its state-of-the-art battery manufacturing expertise to Europe, building on its existing facilities in Germany and Hungary. The new Spanish plant will further support Europe’s e-mobility and climate goals while advancing the global energy transition.
Stellantis is pursuing a dual-chemistry battery strategy, using both lithium-ion nickel manganese cobalt and LFP technologies to cater to diverse customer needs. The automaker is also exploring innovative cell and pack designs as part of its plan to achieve carbon net-zero status across all scopes by 2038. The transaction is expected to close by 2025, pending regulatory approvals.
STLA’s Zacks Rank & Key Picks
Stellantis currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the auto space are Dorman Products, Inc. (DORM - Free Report) , Tesla, Inc. (TSLA - Free Report) and Blue Bird Corporation (BLBD - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.66% and 51.98%, respectively. EPS estimates for 2024 and 2025 have improved 75 cents and 88 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for TSLA’s 2024 sales suggests year-over-year growth of 2.97%. EPS estimates for 2024 have improved 22 cents in the past 60 days. EPS estimates for 2025 have improved 7 cents in the past seven days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 30 days.