Envision requested about 150 million in cash from the Fund (FAIIP), promoted by the Ministry of Industry, for batteries for electric vehicles built in the Expacionavalmoral industrial estate, in the municipal area of Navalmoral de la Mata, in a plot of 1,088,211 meters.
It is a fund managed by the public company Sepides whose objective is to provide financial assistance through individuals for investment in the industry. Although the bill demanded from the company about 150 million, they are now in business.
This money provided financing for other projects in Extremadura, such as the Trujillo diamond plant and the Merida sugar factory.
At the moment, with these subsidies, the Industry approved a total of 47 projects for almost 700 million dollars and the creation of 2,657 direct jobs. The investment in all these projects has fallen to 1,520 million.
Envision plans to apply for the second call for Electric Vehicle Parts, which has not yet been published
Among its requirements, for new projects not yet started, the call specifies that the start of execution must be foreseen within a maximum period of 12 months.
This assistance differs from Perth’s electric vehicle, which was offered in its first call but not granted. Envision plans to ask for the second one, which has not yet come out but was announced for the first quarter of 2023, with funds left over from the first plan.
Envision requested 115 million dollars in regional incentives and pending resolution
The visit also awaits the resolution of the regional incentives that are made by the independent community and which must be approved by the Ministry of Finance. They cost a non-refundable grant of up to 30% of the cost. He demanded about 115 million in cash.
It should be noted that Envision plans to invest 1,000 million coins in the first phase of the gigafactory. The estimated total investment plan exceeds 5,000 million European coins until the year 2018.
Its implementation is expected in four periods, in which the production of the new line will be completed and which period covers the period from 2023 to 2028, so that the total manufacturing capacity of the machine will be at the end of the fourth stage in 2028. 94.24 gigawatts/hour per year
Last week, the Junta de Extremadura announced that this lithium battery manufacturing process will have priority. The government’s decision to award the Autonomous Business Project (Prize), which means cutting processing times in half and speeding up processes such as expropriations.
The Envision project will be the fourth award of this independent community. There are already morosa cardboard shipyard plants, the Trujillo synthetic diamond factory and the Casar de Cáceres water park.
It also opens the door to hiring resources for hiring personnel and conducting training activities. The Gigafactory aims to create more than 3,000 direct jobs and some 12,000 indirect jobs when the battery plant is at its peak.