By Giulia Petroni 
 

The Spanish government said Thursday that it plans to set up the country's first battery factory for electric vehicles through a public-private consortium with Volkswagen AG's subsidiary Seat SA and Iberdrola SA.

"The project will allow to develop the infrastructure, facilities and mechanisms necessary to manufacture a complete connected electric vehicle autonomously and competitively," said Reyes Maroto, minister of industry, trade and tourism.

The project, which will be open to other partners as well, is part of Spain's strategic projects for economic transformation and recovery, according to the ministry.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

March 04, 2021 10:58 ET (15:58 GMT)

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