The President of Spain, Pedro Sánchez, announced during the closing of the ‘Spain, Vanguard of the Green Industry’ forum that the government will invest over fifty-three million euros in a new battery gigafactory by Slovak company InoBat, to be established in Valladolid. This project entails a total investment of over seven hundred million euros and is expected to create approximately two hundred and sixty direct jobs alongside around five hundred indirect ones.

The initiative is part of the third call of the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle sector. Sánchez highlighted Spain’s commitment to decarbonising the economy and fostering green industries, particularly through public green purchasing obligations and incentives aimed at leading a shift toward sustainable demand in the national industry.

The Ministry of Industry and Tourism has awarded InoBat a grant of fifty-three point eight million euros and a loan of four hundred and fifty-six thousand euros for the factory’s establishment. The plant aims for a production capacity of thirty-two gigawatt hours by two thousand and twenty-seven, with full operation anticipated by two thousand and twenty-nine.

Sánchez and various ministers emphasised the urgent need for a state pact to address climate emergencies and called for political and social consensus beyond legislative terms. They underscored the pressing realities of climate change and Spain’s potential to grow economically while reducing carbon emissions, positioning the country as a leader among OECD nations in these efforts.