The Chinese electric car battery company China Aviation Lithium Battery Technology (CALB) announced on Thursday that it had reached an agreement to set up a factory in Portugal.
In a statement to the Hong Kong Stock Exchange, CALB revealed the signing on Wednesday of a memorandum of understanding with a subsidiary of Portugal’s Agency for Investment and Foreign Trade (AICEP).
The agreement with AICEP Global Parques provides for the acquisition of “surface rights, with the aim of setting up a world-class, highly intelligent, computerized and automated factory with zero carbon emissions”, the company said.
CALB “has not yet signed a legally binding agreement”, so “the cooperation envisaged in the MoU may or may not progress”.
The company also mentioned that the possible installation of a factory in Portugal would be part of a strategy aimed at creating “industrial bases in Europe”.
In December 2021, CALB announced the signing of an agreement with the German consulting firm Drees & Sommer to plan the first plant in Europe, which could produce batteries with a total capacity of 20 GWh per year.
According to the China Automotive Power Battery Industry Innovation Alliance, an industry association, CALB was in 2021 the third largest Chinese manufacturer of electric car batteries.