Maria Jesús Lorenzana, regional minister of economy and industry in Spain’s Galicia region, described as “a great economic and industrial opportunity” the planned project to build an industrial plant for the production of electric vehicles by the Chinese car manufacturer SAIC Motor.

This is the construction of SAIC’s first industrial production facility in Europe.

This investment is described as “one of the most important industrial investments made in Galicia in decades”, with an initial investment capital of about 200 million euros, creating more than 2,300 jobs with an annual production capacity of about 120,000 vehicles, as announced by local authorities earlier in June.

Beyond the financial investment, officials see the project, which will include an industrial zone for vehicle assembly, as a catalyst towards broader industrial development.

Lorenzana said the new plant could help promote sophisticated industrial production, expand the local supply chain of vehicle components, and strengthen the capabilities of managing parts supply chains in the wider region, which has a long tradition in the automotive industry.

SOURCE: RES-EBA