INF 1.85% 5.3¢ infinity lithium corporation limited

An interesting article…..1 step closer, hold your nerve and...

  1. 263 Posts.
    lightbulb Created with Sketch. 69



    An interesting article…..
    1 step closer, hold your nerve and strap your self in for the ride, lots of positives in the green technologies in the processing and now this.

    Volkswagen rules out Catalonia for its future Spanish battery plantTHE TRANSFORMATION OF THE AUTOMOTIVE INDUSTRYSagunt and Extremadura, the two options being studied by the group for the cell factory The Volkswagen Group has ruled out Catalonia for the location of its Spanish battery gigafactory. It has also ruled out Aragon, so the decision is now between Sagunt (Valencian Community) and Extremadura, according to sources close to the German group. Although the decision has not yet been made official, the Government of the Generalitat has already been informed about the discarding of the Catalan proposal, which is argued largely by the desire to distribute throughout the territory the heavy investments that Volkswagen is preparing for the technological transformation of its business in Spain. Even without a battery plant, Catalonia would get the lion's share, with the awarding of the future small electric vehicle that in principle will be manufactured under the Seat, Cupra and Skoda brands. And in terms of batteries, it will have the design center: it will be presented on Wednesday in Martorell and will be the only center of its kind in Spain. Catalonia will also host the assembly plant and recycling of batteries, most likely at the Seat plant in Zona Franca. And the works council, headed by Matías Carnero, is fighting for the engines for the electric car to be located at Seat's plant in El Prat. What Catalonia will not have is the cell plant, the heart of what later becomes the battery, which, barring any surprises, will be built in Sagunt or Extremadura. Depending on its size, a cell plant involves an investment of between 2,000 and 3,500 million, and between 3,000 and 5,000 direct jobs. "We are not aware that the Volkswagen group has made a final decision regarding the location of the battery cell factory, but we continue to work intensively with the company so that most of the elements of the electric car value chain are installed in Catalonia," said sources from the Department of Enterprise and Employment, which is headed by Roger Torrent. "The Government's priority is to ensure the manufacture of the electric vehicle in Martorell because it is what guarantees the future of Seat and Catalonia's leadership in the sustainable mobility industry," they added. The electric car, they stressed, is "the most important element of the entire value chain, which requires greater investment, guarantees more employment and generates a more relevant drag effect". For this reason, the Government considers the announcement made on Thursday by Volkswagen regarding the manufacture of the electric car in Martorell to be "excellent news".In any case, apart from the relations with VW and Seat, the Generalitat is in contact with several companies to which "the best possible offer has been made in terms of public aid, location, supplies, connectivity, professional profiles and timetable for the development of the land to attract battery cell factories to Catalonia", according to sources from Empresa. "We do not rule out that in the medium term some of these companies will set up in Catalonia," they concluded. Regarding the two options that are still on the table today, sources familiar with the deliberations explain that Volkswagen has a slight preference for Sagunt, because it values its good communications in comparison with Extremadura and also the availability of qualified personnel. However, the central government is betting more on Extremadura to compensate for the problem of the so-called empty Spain and also to avoid the discomfort that will inevitably cause the community to engage in the extraction of lithium, with the consequent environmental problems that this implies, while the great job creation is displaced to other areas. "It would be the factory in capital letters of Extemadura", emphasize the same sources. As a geographical location, only its proximity to the Portuguese Volkswagen plant plays in its favor. The Ministry of Industry insists, however, that this is a "strictly business decision" and denies any interference in the decision. Seat spokesmen declined to comment on the results of the selection and pointed out that the process has not yet been concluded. "The technological, logistical and economic requirements for the location of a battery factory are very demanding," assured sources at the company chaired by Wayne Griffiths. "A variety of premises and factors are evaluated to identify the most suitable locations for the Volkswagen Group and its production network," they added. Barring any surprises, the group's decision is to manufacture some 900,000 electric cars a year in Spain, 500,000 of them in Martorell and the rest in Navarra.


    https://www.lavanguardia.com/economia/20211211/7921698/volkswagen-cataluna-descarta-planta-baterias-espana.html
 
watchlist Created with Sketch. Add INF (ASX) to my watchlist
(20min delay)
Last
5.3¢
Change
-0.001(1.85%)
Mkt cap ! $24.51M
Open High Low Value Volume
5.5¢ 5.5¢ 5.3¢ $8.335K 151.9K

Buyers (Bids)

No. Vol. Price($)
2 338032 5.3¢
 

Sellers (Offers)

Price($) Vol. No.
5.5¢ 22826 2
View Market Depth
Last trade - 14.54pm 24/06/2024 (20 minute delay) ?
INF (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.