China's SAIC Motor, one of the country's largest automakers, is reportedly planning to establish an electric vehicle (EV) factory in Spain, according to a Bloomberg News report. The move marks a significant expansion of the company's global EV manufacturing footprint, as it seeks to capitalize on growing demand for eco-friendly vehicles in Europe and beyond. SAIC Motor's investment in Spain is likely to create hundreds of jobs and boost the country's automotive industry, which has been a major driver of economic growth in recent years. As the European Union sets ambitious targets to phase out internal combustion engines, SAIC Motor's decision to set up shop in Spain could be a strategic play to tap into the region's rapidly evolving EV market.
China's SAIC Motor plans EV factory in Spain, Bloomberg News reports Reuters
