Gigafactory? Spain Grants Stellantis 133 Million Euros

Spain has promised a 133 million-euro grant to automobile manufacturer Stellantis for a potential battery plant near Zaragoza. The grant is part of a government program to support the electric vehicle and battery industry with funds from the EUʼs economic recovery plan. The Spanish government claims the financial support could persuade Stellantis to confirm the project.

Plans remains uncertain

A final decision on the construction of the gigafactory has not yet been made by Stellantis. The company is still evaluating whether the battery factory should be built next to its existing plant in Figueruelas. The plan, which would create around 3,000 jobs and require an investment of around 2.5 billion euros, would involve a collaboration with the Chinese battery manufacturer CATL. Stellantis welcomed the Spanish government’s decision, but emphasized that the project is still subject to various approvals. With the latest grant, Spain has increased its support for Stellantis to almost 300 million euros in total.

Source:
https://www.reuters.com/business/autos-transportation/spain-grants-146-million-subsidy-stellantis-potential-ev-battery-plant-2024-10-08/

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