Stellantis will receive another strong boost for the installation of its battery gigafactory in Figueruelas. The Ministry of Industry will grant an additional 133 million euros of VEC III Loss with the aim of continuing to be a leader in the automotive industry. The multinational is now approaching 300 million in European funds.
Stellantis already had 55.8 million euros for the Perte VEC II battery gigafactory, even if this amount did not fully satisfy the multinational. NOW, The Ministry of Industry has allocated an additional $133 million for a multi-million dollar project that will be essential for the automotive sector to maintain its competitiveness and strength..
This was announced on Tuesday by the Minister of Industry, Jordi Hereu, during the inauguration of the 4th edition of the Impulso a Movilidad Awards. Zaragoza confirmed this first provisional resolution of Loss VEC III, which will also inject European funds into other projects across the country. Among them, the subsidy for the PowerCo gigafactory in Sagunto is expanded from 98 million to 152 million..
It is not in vain that Hereu recognized that These investments are “necessary” to maintain leadership in the automotive industry over the coming decades.aware that “the development of many territories” and “thousands of families” are at stake. “We will do it together, with complete confidence. We will move on from this subject,” he guaranteed.
To this end, the minister stressed the importance of Europe is “becoming aware” of the importance of “combining efforts” to “defend a major industry”. “To this process of digital, energy and social transformation, we are applying European fund policies to help the transformation,” he noted.
Because, according to him, Spain can face this transformation and these challenges “in a privileged position.” “We have an empire-size ecosystem of component manufacturers and an extensive network of resellers and suppliers.. This positions us as the second largest European producer and the ninth worldwide, in an environment of transformation and change,” he noted.
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