Automakers commit €7.6B to Spain EV projects, second wave of European electrification

Volkswagen, Renault, Mercedes-Benz, Seat, Stellantis, Chery, Geely, and Santana are investing €7.6 billion in Spain to build EV and battery capacity, marking a second wave of European electrification. The scale and breadth of commitments signal a major industrial shift, though execution and demand uncertainty remain. This bolsters Spain's position as a European EV hub and has positive implications for regional growth and supply chains.