The automotive industry needs more and more batteries due to the transition to electric vehicles. The next factories for their production will be built in Spain, according to Reuters.
Spain has signed a partnership agreement with the Chinese company Envision Group on renewable energy sources, we read on the website of the Samara Institute for Automotive Market Research. The projects with a total value of 3.8 billion euros will be partly funded by the European Union.
A €2.5 billion electric vehicle battery plant will be built in Navalmoral de la Mata, in the Midwest of the Extramadura region of Spain. The contract with Envision Group also includes the construction of a hydrogen power plant (a wind farm with a turbine assembly plant) and an investment in a digital product development center. Both projects were valued at around 900 million euros and 300 million euros respectively.
Spain is the leader in electric vehicles
The Chinese company’s plans to build a battery plant follow the decision of the German concern Volkswagen, which earlier announced an investment in an electric vehicle and battery plant near Valencia in Saguto, Reuters reported.
Spain recently announced, together with the Volkswagen Group, an investment of several tens of billions of euros, which will involve both the company that controls the Spanish auto industry and all regions of the country.
Serial production of batteries at the Volkswagen Group plant is scheduled to start in 2026.
Source: Wprost
