[Article] Good for K-Battery and Charger?…Spain invests $6 trillion in electric vehicles and batteries

President Moon visited Spain a month ago… “Detailed collaboration news.”

The Spanish government announced on Wednesday that it will invest 4.3 billion euros (about 5.8492 trillion won) to foster the electric vehicle and battery industries. Moon Jae-in president ‘battery sales — k’ through his state visit to Spain in a month of job.

According to Reuters on the same day, Spanish Prime Minister Pedro Sanchez said he had prepared a government-level plan to build Spain’s first battery plant and expand electric vehicle production.

The Moon Jae-in, the president his state visit to Spain last month. At that time, Korean battery industry-related entrepreneurs who visited Madrid with President Moon reportedly talked about attracting local investment at the “Korea-Spain Green and Digital Business Forum” held on June 16.

Kim Jong-hyun, CEO of LG Energy, who was a Spanish economic mission at the time, said in a forum, “Spain has lithium mines and has many major automobile plants, which is very attractive as an eco-friendly energy market, including electric cars.”

He said, “If Spain’s excellent advantages and LG Energy Solution’s world-class technology and rich business experience are combined, we can create a better success story than any other collaborative model.”

One of the other economic missions, Chazin(EVZ), a startup company, received attention from local companies for charging-type outlet chargers. According to Chief Strategy Officer (CSO), Choi Young-seok, who was on the scene, a leading Spanish businessman expressed his intention to cooperate with Chazin(EVZ)

Korean companies also expressed their expectations as news of a large-scale investment came about a month after the Korean economic mission visited Spain. “If cooperation with local companies is confirmed in detail, we will be able to deliver good news,” CSO Choi Young-seok said.

Currently, eight electric vehicle manufacturers operate 15 plants in Spain, but there are no battery factories for electric vehicles. In response, the Spanish government is reportedly considering attracting a Korean battery company that is doing well in the international market.

Earlier this year, the Spanish government set aside a budget of 300 million euros to support pollution-free vehicles, electric vehicle batteries, and electric charging facilities. In particular, the Catalonia government in Spain is also planning to convert Nissan’s auto plant, which will close in December 2021, into a battery plant.

Regarding the plan to foster the electric vehicle battery industry, Sanchez plans to cover most of the funds with the European Union’s economic recovery fund, and the private sector expects to contribute 197 billion euros from this year to 2023.

The Economic Recovery Fund is a fund raised by the EU to support member countries affected by covid-19, which is about 750 billion euros (about 1,020 trillion won).

Prime Minister Sanchez predicted that the plan would create 140,000 new jobs and increase the contribution of the automobile industry to 15% by 2030 from the current 10%.

Original Source : http://www.upinews.kr/newsView/upi202107130041

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