8 Jun, 2023 @ 10:30
1 min read

Multinational car manufacturer could seal massive deal for project in Spain’s Valencia area

Multinational car manufacturer could seal massive deal for project in Spain's Valencia area
Image by LEEROY Agency from Pixabay

TALKS are said to be an ‘advanced stage’ for an international car manufacturer to launch a project in the metropolitan area of Valencia.

Reports from the Levante newspaper suggest that the investment will exceed the €4.5 billion pumped in by Volkswagen into a new electric car battery factory at Sagunt.

Negotiations are not ‘100%’ concluded but are ‘very focused’ and a contract has already been signed with confidentiality clauses.

That means details like the name of the manufacturer and where they plan to set up cannot be revealed.

Discussions started nearly a year ago and the firm is one of ten multinational companies that the acting regional president, Ximo Puig, referred to in a speech last month.

During the election campaign, Puig who lost to the Partido Popular’s Carlos Mazon, claimed that the international firms were negotiating with his government.

The plan is to transform the Valencian Communtiy into a sustainable mobility hub for southern Europe.

Besides the Volkwagen Sagunt deal, Ford will move totally towards electric vehicle production at their Almussafes plant.

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