Renault Announces €600 Million Investment to Boost Spanish EV Production
Renault’s Strategic Investment in Spanish Electric Vehicle Production
Overview of the Investment Plan
Sept 24 (Reuters) - Renault Group said on Thursday it will invest €600 million ($683 million) through 2030 to adapt its Spanish plants in Valladolid and Palencia for the production of five new car models, including electric vehicles, and install a battery assembly line in Valladolid.
Funding Sources and Industrial Transformation
• The investment combines Renault’s own resources with national and regional public funding aimed at industrial transformation and sustainable mobility, the company said in a statement.
Long-Term Commitment and Job Security
• According to Renault, the plan reflects its long-term commitment to Spain, reinforces Spain’s strategic role within the group and helps secure the future of more than 6,000 direct jobs.
Factors Behind the Investment Decision
• The decision to strengthen investments in Spain is based on the plants' competitiveness, among other factors, and follows the signing of a new collective bargaining agreement for 2026-2028, it said.
Details on New Electric Vehicle Models
• Renault will manufacture two medium-sized EV models based on the RGEV Medium 2.0 EV native platform.
Exchange Rate Information
($1 = 0.8788 euros)
Reporting and Attribution
(Reporting by Andrei Khalip)
