InoBat, the Chinese-Slovak company that plans to implement a battery gigafactory in Valladolid, has given Spain a wake-up call. And it has done so through its president, Andy Palmer, who has pointed out that “a call effect is being generated with proposals from different countries around us, whose regulatory commitment is, without a doubt, attractive and whose decision to allocate significant amounts direct aid must be studied by InoBat with the same interest as that which, from the beginning, it has shown in Spain”.
Despite this, the former Director of Operations at Nissan and former CEO of Aston Martin has acknowledged that “InoBat continues to focus its full attention on Spain, and especially on Valladolid.and hopes with confidence to be able to benefit from the aid proposed for the immediate development of the first phase of its project.”
Palmer himself has stated that “the year 2024 has ended with an enormously positive balance for InoBat, which has achieved important achievements both technologically and in investment, with a collection that amounts to 100 million euros destined for investment, and the determined economic support of its main partners, investors and collaborators, among which are Amara Rojo, Río Tinto, Lilium, Bromo Capital, IPM Group, Cielo Capital and Gotion – the Chinese battery cell manufacturer, backed by the Group Volkswagen -, which will pave the way for InoBat to become Europe’s leading battery company.”
The British manager has assured that “the company’s relations with the Government of Spain, as well as with the Government of the Autonomous Community of Castilla y León and with the City Council of Valladolid are, and have always been, excellent, and that in everything moment we have acted in coordination with these institutions”.
As a consequence of this good harmony, the multinational accepted the suggestion to resign from Perte VEC II to participate in Perte VEC III. The company presented its project to the battery line of the second edition of the Perte VEC. Given that the bases of these aid included simple competition, that is, the projects were resolved in order of arrival, InoBat ran out of funds when presenting its project on the last day of the deadline it had available. InoBat also participated in the third edition of Perte VEC and, to date, the company has not achieved any public incentive for its installation in Valladolid.
At the end of 2023, InoBat finished closing the investment agreement. This gigafactory will have a capacity of 32 GWh and will be developed in several phases.
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