The Chinese company CALB has confirmed that it will invest €2Bn in Portugal to build a new lithium battery factory at Sines. 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 the battery technology industry, Portugal has the potential for further growth in the future, especially in the field of lithium-ion batteries and energy storage. Portugal is one of the countries with the largest lithium reserves in Europe.
By developing its lithium resources, the country aims to become part of the global battery supply chain. To strengthen the industrial value chain and the innovation ecosystem in energy storage and battery technology, Portugal has launched an initiative named Battery Cluster 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.
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