Spain’s Ministry of Industry, Commerce and Tourism has approved a new round of aid for electric vehicle battery production projects, according to a press note released by the ministry on October 11.
It said that seven new proposals representing €87 million are provisionally authorized, wherein the aid is approved for projects that belong to Stellantis, Mobis, Fragnor and Lithium Iberia. Notably, Stellantis has four approved projects.
In addition, the final resolution is approved for Beecycle, which obtained financing for an EV battery recycling plant in Navarre, Spain, worth €1.6 million, it said.
According to the note, the four approved Stellantis projects will serve to finance the Madrid, Vigo and Zaragoza facilities in Spain, and add up to a total of €63.75 million.
While Mobis is slated to receive €9.5 million for a battery production plant in Noáin, Navarre, Fragnor has been approved for an aid of €867,000 for a lithium and cobalt recovery project from battery recycling.
Moreover, Lithium Iberia is expected to receive €13.3 million to finance a process plant for the manufacture of lithium hydroxide in Cáceres, Spain.
