China’s SAIC plans to build first EU car plant in Spain’s Galicia
Galicia’s leader Alfonso Rueda said his administration had given the project an initial investment envisaged at around US$232 million
China’s SAIC Motor plans to set up a car factory in Spain’s northwestern region of Galicia that would be its first production facility in the European Union, the regional government said on Monday.
Galicia’s leader Alfonso Rueda said his administration had given strategic priority to the project, with an initial investment envisaged at around €200 million (US$232 million).
The project, which includes a logistics hub, still requires the central government’s approval for foreign direct investment.
The plant in the port of Ferrol should create about 1,000 direct jobs and more indirect ones, and will use many locally produced components, the government said in a statement.
Provided all necessary approvals are in place by then, construction should start next year and the factory would become operational in 2028, according to Rueda.