Technical FAQs 4

Will China invest 2 billion in EV battery factory in Portugal?

China’s CALB to invest $2 billion in EV battery factory 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.

Will a new battery factory create new jobs in Portugal?

Our factory will not only create new jobs, but will also place Portugal at the forefront of the production of batteries for electric vehicles in Europe,” said Liu Jingyu, chairman of the Board of Directors of CALB. Once operational, the plant will have a production capacity of 15 GWh of energy storage.

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.

Is China a 'historic investment for the green economy' in Portugal?

The launch of the project took place today (Monday) in Lisbon and was attended by the President of the Board of CALB, Liu Jingyu and Portugal’s Minister of the Economy, Pedro Reis. In a statement, the Chinese manufacturer called it “a historic investment for the green economy in Portugal”.

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