MADRID : Spain has signed a partnership agreement with Chinese green energy company Envision Group to embark on four projects, including a battery plant for electric cars, with 3.8 billion euros in total investment, partly funded by European Union aid.
The battery"giga-factory" in Navalmoral de la Mata in the central-western region of Extremadura, will require 2.5 billion euros in investment and could create as many as 3,000 jobs, the statement said.It would be second electric car battery project in Spain - Europe's second-largest car producer. Volkswagen aims to start building the 40-gigawatt-hour plant in Sagunto near Valencia, which requires 3 billion euros in investment, in the first quarter of 2023, with serial production to start by 2026.