Spain has inked a partnership agreement with China-based Envision Group for the development of four projects, including a battery plant for electric vehicles, reported Reuters.

These projects would entail a total investment of €3.8bn, which will partly funded by the Spanish government with an aid from the European Union.

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Envision Spain head Jose Dominguez was quoted in a statement from the Spanish government that the projects would be built together with Spanish renewable power company Acciona Energia..

The EV battery factory will be built in Navalmoral de la Mata in the central-western region of Extremadura.

Requiring an investment of €2.5bn, the factory could create about 3,000 jobs.

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Extramadura is a poor region in Spain but with significant reserves of lithium.

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Once built, the Extramadura facility will be the second electric car battery project in the country, which is the second largest car producer in Europe.

In May, German auto manufacturer Volkswagen stated that the company, along with its partners, will invest €10bn to manufacture electric vehicles and batteries in Spain.

The German company also intends to commence construction of the 40GWh plant in Sagunto near Valencia in Q1 2023, with production to commence by 2026.

The partnership agreement with the Chinese greentech company Envision also features a renewable hydrogen plant of up to €900m, and wind energy park with a turbine assembly plant. These facilities will be constructed in the towns of Alcazar de San Juan and Navas del Marques.

Furthermore, the partnership agreement envisages a $300m digital products development centre.

The Spanish government will help to fund the investment with EU pandemic relief funds.
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Image: The EV battery factory will be built in Navalmoral de la Mata Credit: (Joenomias) Menno de Jong from Pixabay.