Spain Grants Stellantis 133 Million Euros for Battery Plant
Spain Grants Stellantis 133 Million Euros for Battery Plant
Spain Grants Stellantis 133 Million Euros for Battery Plant
News summary

Spain has awarded Stellantis a 133 million euro subsidy to support its potential battery-making plant near Zaragoza, as part of a broader initiative to enhance the electric vehicle (EV) and battery sector using EU pandemic recovery funds. This financial aid aims to solidify Spain's position as a key automotive hub in Europe and is anticipated to create approximately 3,000 jobs, with a total investment of around 2.5 billion euros in partnership with China's CATL. Despite the government’s support, Stellantis has yet to officially confirm the project's development, pending necessary regulatory approvals. Additionally, the Spanish government has increased subsidies for another gigafactory project by Volkswagen in Sagunto, raising it from 98 million to 152 million euros. Overall, Stellantis has received nearly 300 million euros in aid from the Spanish government to date, highlighting the country's commitment to the automotive industry and electrification efforts.

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