Reuters: SAIC Motor to Build Europe’s First Factory in Spain
According to Reuters (Japanese edition), on June 2: Chinese major automaker SAIC Motor plans to construct a new automobile factory in Galicia, Spain. This will be the company's first production base within the European Union (EU). The announcement was made by the regional governor, Alfonso Rueda, on June 1.
The regional government has designated this project as a strategic key initiative, with initial investment expected to be around €200 million. To implement the project, construction including a logistics hub will require approval from the central government.
SAIC is very popular in Europe, operating the “MG” brand, which focuses on electric vehicles.
According to a statement from the regional government, the factory located at the port of Ferrol is expected to create approximately 1,000 direct jobs, along with many more indirect employment opportunities, and will use a large number of locally manufactured components.
If all approvals are obtained, construction is set to begin next year, with the factory scheduled to start production in 2028. After completion of the second phase of construction, the plant's annual capacity is expected to reach 120,000 units.
Spain is one of the largest automotive industries in Europe, and several Chinese automakers are planning local production.
In the fierce price competition among global electric vehicle manufacturers, Chinese companies are expanding their investments in Spain and increasing their market share across Europe.
Original article: toutiao.com/article/1866852000307212/
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