The Volkswagen Group, PowerCo and the Chinese company Gotion High-Tech have agreed to "deepen their strategic alliance" through a joint venture for the development and operation of the battery cell gigafactory currently under construction in the town of Sagunto (Valencian Community). In this way, the Chinese manufacturer is investing some 1.1 billion euros to obtain 49% of the gigafactory.

Spain will have two large battery factories. One will be in Sagunt, under the auspices of Seat and its parent company Volkswagen. The other will be in the Extremadura town of Navalmoral de la Mata. Here, the Spanish company Acciona and the Chinese group Envision will build a battery gigafactory, Extremadura daily Hoy has reported and sources familiar with the project have confirmed to ARA. Spain will thus have two large battery factories.