popular articles

Spain Boosts Electric Era with €190m for Batteries and EVs

Spain is providing massive funding for the development of batteries for electric vehicles, with a focus on gigafactories and reducing CO2 emissions.
Espagne pivot de la mobilité électrique

Please share:

Spain’s electric vehicle industry receives a significant boost with a €190 million investment in several key projects. This initiative is part of the national strategy to reduce CO2 emissions and promote sustainable mobility.

Stellantis and Lotte in the foreground

At the heart of this investment, Stellantis and Lotte stand out. Stellantis receives an allocation of 56 million euros for its gigafactory in Zaragoza, while Lotte receives 49 million euros. These funds will help boost battery production and strengthen Spain’s position in the European automotive industry.

Ongoing dialogue on additional financing

The government is maintaining a dialogue with Stellantis to explore additional financing avenues, thus guaranteeing the project’s completion. This collaboration underlines the government’s commitment to supporting the automotive industry, particularly in the field of electric vehicles.

Financing comparison

Although the amount granted to Stellantis is lower than that granted to other major players such as China’s Envision and Volkswagen, the company ensures the economic viability of its project through close collaboration at national and regional levels.

Use of EU funds

With this second phase of funding, the Ministry has announced that it has allocated 95% of the European funds, totalling 529 million euros. A third phase is planned for 2024, with 1.2 billion euros available, underlining Spain’s ambition to become a leader in the electric vehicle sector.

Spain’s ambitious goals

Spain is aiming for 5.5 million electric vehicles by 2030, representing around one-sixth of its vehicle fleet. This plan is part of a wider effort to reduce CO2 emissions in the transport sector by 32 million metric tons, corresponding to a quarter of the total CO2 emissions reduction target.
The dynamism of the raw materials market, particularly lithium hydroxide, remains an important factor. With Platts valuing the price at $22,500/mt in early November, price fluctuations will have a significant impact on the electric vehicle battery industry.

This major investment in Spain marks a decisive step in the transition to electric mobility. By focusing on gigafactories and supporting key players such as Stellantis and Lotte, Spain is making a firm commitment to reducing CO2 emissions.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Grenergy is turning to Germany and the United States for its energy storage projects in response to the growing needs of data centers and complex energy markets.
Ace Green Recycling merges with Athena Technology Acquisition Corp. II to accelerate its development, with plans for expansion in Texas and specialized technology in energy storage for lead and lithium-ion batteries.
Ace Green Recycling merges with Athena Technology Acquisition Corp. II to accelerate its development, with plans for expansion in Texas and specialized technology in energy storage for lead and lithium-ion batteries.
Eos Energy Enterprises strengthens its position in the energy transition with a loan guaranteed by the U.S. Department of Energy. This funding supports zinc battery production expansion and the creation of hundreds of jobs in the U.S.
Eos Energy Enterprises strengthens its position in the energy transition with a loan guaranteed by the U.S. Department of Energy. This funding supports zinc battery production expansion and the creation of hundreds of jobs in the U.S.
LG Energy Solution and General Motors announce a partnership to create advanced prismatic battery technology for future electric vehicles, strengthening their 14-year strategic collaboration.
LG Energy Solution and General Motors announce a partnership to create advanced prismatic battery technology for future electric vehicles, strengthening their 14-year strategic collaboration.
The sale of Harmony Energy Income Trust's battery portfolio could redefine market benchmarks in the UK. Investors are closely watching the sector's ability to attract premiums amid uncertain conditions.
A major contract has been signed between Bolivia and Hong Kong CBC Investment for the construction of two lithium carbonate plants, strengthening the country's strategic position in the renewable energy sector.
A major contract has been signed between Bolivia and Hong Kong CBC Investment for the construction of two lithium carbonate plants, strengthening the country's strategic position in the renewable energy sector.
ABO Energy sold two stand-alone battery projects to Électricité de France (EDF), enhancing local energy storage capacity with a total of 616 MWh. A decisive step for stabilizing South Africa’s power grid.
ABO Energy sold two stand-alone battery projects to Électricité de France (EDF), enhancing local energy storage capacity with a total of 616 MWh. A decisive step for stabilizing South Africa’s power grid.
The Corazon Energy Storage project, with a capacity of 150 MW / 600 MWh, will support grid reliability and renewable energy integration in New Mexico, bringing the state closer to its clean energy goals by 2045.
The Corazon Energy Storage project, with a capacity of 150 MW / 600 MWh, will support grid reliability and renewable energy integration in New Mexico, bringing the state closer to its clean energy goals by 2045.
Under the weight of colossal debt, Northvolt seeks protection under the U.S. Chapter 11 law. The departure of CEO Peter Carlsson marks a critical turning point for the company, once a European flagship in the battery industry.
Element Energy has commissioned a 53 MWh facility using repurposed electric vehicle batteries, providing an innovative and eco-friendly solution for energy storage on the ERCOT grid.
Element Energy has commissioned a 53 MWh facility using repurposed electric vehicle batteries, providing an innovative and eco-friendly solution for energy storage on the ERCOT grid.
GUS Technology and Toshiba Corporation have reached an agreement to develop lithium-ion batteries using niobium titanium oxide (NTO), with a market launch targeted for 2025.
GUS Technology and Toshiba Corporation have reached an agreement to develop lithium-ion batteries using niobium titanium oxide (NTO), with a market launch targeted for 2025.
Fidra Energy and Sungrow announce a strategic partnership to develop two energy storage projects totaling 4.4 GWh in the UK, supporting the energy transition.
Fidra Energy and Sungrow announce a strategic partnership to develop two energy storage projects totaling 4.4 GWh in the UK, supporting the energy transition.
The partnership between EDP Renewables and Salt River Project will result in the creation of a revolutionary 200 MW energy storage system designed to meet Arizona's growing electricity needs.
The Single Electricity Market in Ireland and Northern Ireland is set to quintuple its energy storage capacity by 2030, according to Cornwall Insight, but obstacles remain to meet renewable energy targets.
The Single Electricity Market in Ireland and Northern Ireland is set to quintuple its energy storage capacity by 2030, according to Cornwall Insight, but obstacles remain to meet renewable energy targets.
The Swedish manufacturer Northvolt sells its California site to Lyten, a U.S. start-up specializing in lithium-sulfur batteries. This strategic decision refocuses its projects in Europe, while Lyten invests massively in the United States. Meanwhile, Northvolt faces significant financial challenges.
The Swedish manufacturer Northvolt sells its California site to Lyten, a U.S. start-up specializing in lithium-sulfur batteries. This strategic decision refocuses its projects in Europe, while Lyten invests massively in the United States. Meanwhile, Northvolt faces significant financial challenges.
The company esVolta secured $110 million USD in financing in partnership with Greenprint Capital Management to develop the Hummingbird project, a 300 MWh energy storage system designed to strengthen California’s power grid.
The company esVolta secured $110 million USD in financing in partnership with Greenprint Capital Management to develop the Hummingbird project, a 300 MWh energy storage system designed to strengthen California’s power grid.
In Germany, Vulcan Energy inaugurates a unique refining plant using geothermal energy to produce low-carbon lithium, a key step towards European independence in critical metals and energy storage.
Eku Energy has finalized financing for its 250 MW/500 MWh energy storage system in Canberra, contributing to the energy security of the ACT and its ambitious climate goals.
Eku Energy has finalized financing for its 250 MW/500 MWh energy storage system in Canberra, contributing to the energy security of the ACT and its ambitious climate goals.
Saudi Arabia has launched a tender for four energy storage projects totaling 2,000 MW, aiming to strengthen its storage capacity and integrate more renewable sources into its power grid.
Saudi Arabia has launched a tender for four energy storage projects totaling 2,000 MW, aiming to strengthen its storage capacity and integrate more renewable sources into its power grid.
Iontra Inc., in partnership with Idaho National Laboratory and Freudenberg Power Systems, receives a $2.15 million ARPA-E grant to optimize battery state management for electric vehicles and extend their lifespan.
Iontra Inc., in partnership with Idaho National Laboratory and Freudenberg Power Systems, receives a $2.15 million ARPA-E grant to optimize battery state management for electric vehicles and extend their lifespan.
Ormat Technologies launches in California its largest energy storage project, Bottleneck, an 80MW/320MWh system designed to provide energy services to San Diego Gas & Electric under a 15-year contract.
SERMATEC deploys a 5.1 MW/17.8 MWh energy storage system in Bulgaria, aiming to optimize solar energy management and support the stability of the local power grid.
SERMATEC deploys a 5.1 MW/17.8 MWh energy storage system in Bulgaria, aiming to optimize solar energy management and support the stability of the local power grid.
Energy Vault and Enervest partner to deploy a 1.0 GWh energy storage facility in New South Wales, aiming to strengthen grid stability and promote renewable energy in the region.
Energy Vault and Enervest partner to deploy a 1.0 GWh energy storage facility in New South Wales, aiming to strengthen grid stability and promote renewable energy in the region.
California's Battery Storage Capacity Climbs 30% Since April
California's Battery Storage Capacity Climbs 30% Since April

Advertising