News Analysis: Chinese partnership helps Spain strengthen EV value chain-Xinhua
MADRID, Oct. 4 (Xinhua) -- Spain builds more than 2 million vehicles a year as Europe's second-largest vehicle producer, but many decisions shaping its automotive industry are made abroad. With Volkswagen considering a possible phase-out of its Spanish brand SEAT after 2030, a new battery partnership with China's Gotion High-Tech highlights Spain's efforts to secure its place in the electric-vehicle value chain. Volkswagen Group, its battery unit PowerCo and Gotion announced on Sept. 28 that Gotion will invest around 1.1 billion euros (1.29 billion U.S. dollars) for a 49-percent stake in PowerCo's battery-cell plant in Sagunto, eastern Spain. PowerCo will retain 51 percent, with the venture intended to be jointly managed and operations to start in 2027. Jose Diez, second vice president...