China's CALB to invest $2.09 billion in EV batery gigafactory in Portugal

Reuters

02-21

China's CALB to invest $2.09 billion in EV batery gigafactory in Portugal

LISBON, Feb 21 (Reuters) - China's CALB, one of the world's largest battery makers for electric vehicles, said on Friday it would invest 2 billion euros ($2.09 billion) in a gigafactory in Portugal that is expected to start production in 2028.

The factory to be built in Sines, about 100 km (62 miles) south of Lisbon, will produce batteries with a total annual capacity of 15 gigawatt hours, which is equivalent to about 187,000 batteries for EVs, mainly in the European market.

(Reporting by Sergio Goncalves; editing by Andrey Khalip)

((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net))

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