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Business & Finance

Spain to use EU funds for electric-car battery plant with SEAT, Iberdrola

  • The consortium will be open to other members and will help Spain begin local production of electric cars, Maroto told an event organised by the UGT union.
  • SEAT had previously called such a factory "essential" in the push for domestic production of electric vehicles.
Published March 4, 2021

MADRID: Spain will use European Union funds to create a public-private consortium with VW's Spanish unit SEAT and Iberdrola to build the country's first factory for electric-car batteries, Industry Minister Reyes Maroto said on Thursday.

The consortium will be open to other members and will help Spain begin local production of electric cars, Maroto told an event organised by the UGT union.

SEAT had previously called such a factory "essential" in the push for domestic production of electric vehicles.

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