MADRID (Reuters) – Slovakia’s battery manufacturer InoBat said on Wednesday it had signed a declaration of intent with the Spanish government to set up an electric vehicle battery factory in the city of Valladolid in central Spain.
The declaration of intent is not a finalised agreement and other locations, including the United Kingdom, remain under consideration for its Western European gigafactory, the company added in a statement, explaining that it plans to make a decision on the location before the end of the year.
According to the Spanish Industry Ministry, the plant is expected to cost 3 billion euros ($2.94 billion) and would create more than 2,000 direct jobs.
InoBat considers Valladolid an attractive location due to its wealth of talent, access to renewable energy, proximity to equipment manufacturers and strong transport links.
($1 = 1.0206 euros)
(Reporting by Inti Landauro, editing by Andrei Khalip)
