According to a presentation by the Spanish government, Madrid is set to invest $5.11 billion (4.3 billion euros) in the production of electric vehicles as part of a major national spending program financed mostly by European Union recovery funds.

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

($1 = 0.8422 euros)

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