Spain to invest 4.3 bln euros in electric vehicle production

Spain will invest 4.3 billion euros ($5.11 billion) in the production of electric vehicles as part of a major national spending program financed mostly by European Union recovery funds, a government presentation showed on Monday.

The government-run plan will include the whole production chain from extracting lithium to assembling battery cells and manufacturing electric vehicles, Prime Minister Pedro Sanchez said at an event to present the project.

($1 = 0.8422 euros)