Spain to spend billions for slice of EV sector
STAKING A CLAIM:
Spain plans to spend about 13 billion euros to promote domestic sales of EVs, build a battery cell plant and attract automakers
Reuters, BARCELONA, Spain
Spain is moving aggressively to land new battery and electric vehicle (EV) plants, using billions of EU COVID-19-pandemic relief funds to avoid being left behind as the global auto sector undertakes the biggest technology transformation in a century.
As Europe’s second-largest vehicle-producing nation, behind Germany, and with the automotive sector accounting for 10 percent of its economy, Spain has a lot to lose as automakers overhaul supply chains and manufacturing for electric vehicles.