What’s Happening?
The regional economy minister, María Jesús Lorenzana, announced that the Spanish government’s Council of Ministers will soon approve the foreign‑direct investment needed for SAIC to set up a special purpose company. This step is required before the Chinese automaker can officially start the project.
Why Ferrol?
A Strategic Location
Ferrol, in Galicia, offers good transport links, a skilled workforce, and support from local authorities. The Xunta (Galicia’s government) is working on the final details to make sure everything is ready for construction.
Government Backing
Lorenzana stressed that both the regional and national administrations are committed to moving the process forward quickly, saying the final authorization should come in “a few weeks.”
What Will the Plant Do?
The new facility will be a “vehicle society” created just for this project. Its main goal is to assemble electric cars, marking SAIC’s first manufacturing site in Europe.
Jobs and Investment
- Initial investment: 200 million euros
- Expected employment: more than 2,000 jobs (direct and indirect)
- Focus: electric‑vehicle assembly
Next Steps
After the Council of Ministers gives the go‑ahead, SAIC will create the dedicated company, finalize the project plan, and begin building the plant. Officials say the paperwork is progressing normally and they aim to stay within the original timeline.
Conclusion
Ferrol is on the verge of hosting SAIC’s first European electric‑car factory. With strong governmental support, a solid investment plan, and the promise of thousands of new jobs, the project could become a major boost for the local economy and a step forward for Europe’s EV industry.
Source: Diario de Ibiza
Images Credit: www.diariodeibiza.es