The automotive industry is constantly evolving and Spain is strategically positioned to compete for factories and projects of major companies in the sector such as Tesla, Toyota, BYD and Stellantis. These companies are looking to expand their presence in Europe and the Spanish market is an attractive location to set up, which could have a significant impact on the country’s economy and employment.
- Tesla: The well-known manufacturer of electric vehicles is one of the main players in the electric mobility industry. The company is evaluating possibilities to set up a factory in Europe, and Spain is on the list of candidate countries. The possibility of Tesla choosing Spain to set up an electric vehicle manufacturing facility would be a significant boost to the Spanish automotive industry and the economy in general. In addition, Spain’s strategic location in Europe and its logistics infrastructure could benefit Tesla in the continental distribution of its vehicles.
- Toyota: leader in distribution in Spain, is considering the possibility of manufacturing batteries in the country in the second half of the decade, while monitoring the development of the supply chain in Europe. Despite fierce competition, Spain has proven to be an attractive destination for these companies due to its automotive infrastructure, expertise and government support through incentive programs.
- BYD: Another company that has Spain on its radar is BYD, a Chinese company specializing in electric vehicles and batteries. BYD has expressed interest in setting up a battery factory in Europe, and Spain has emerged as one of the possible destinations. Batteries are a fundamental part of EV manufacturing and a battery factory on Spanish soil could strengthen the EV supply chain in Europe. This investment could also create jobs in the sector and contribute to the transition to more sustainable mobility.
- Stellantis: Stellantis, one of the largest automobile manufacturers in the world, emerged from the merger of the automobile groups PSA and FCA. The company is evaluating options for manufacturing electric vehicles in Europe and has Spain on its radar. The transition to electrification is a key focus for Stellantis and establishing an electric vehicle manufacturing facility in Spain could be part of its expansion strategy in this area. This investment could contribute to the modernization of the Spanish automotive industry and the expansion of electrification capacities.
In the battle to attract these important automotive companies, Spain has a number of advantages and assets that could tip the scales in its favour. One of the key factors is the experience and talent of the Spanish workforce in the automotive industry. Spain has a long tradition in car manufacturing and has a highly qualified workforce in various areas of production and technology.