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Valencia takes the lead to host gigafactory

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Valencia takes the lead to host gigafactory
Volkswagen Spain responsible for “dieselgate” rules the Supreme Court .
image: wikimedia

The Ford factory in Almussafes, Valencia received good news on Friday with the feedback that Valencia takes the lead to host gigafactory. It is understood that following discussions at a senior level within Volkswagen that the local consortium led by Power Electronics is now in the lead.

The relegation of Catalonia followed a meeting in Germany of the Volkswagen group supervisory council where infrastructure linked to the manufacture of the batteries was discussed.

The consortium of more than 20 companies is now believed to offer more serious options to the Volkswagen Group, who is the company behind the factory. Importantly the green light has been given by the EU for Spain to allocate 3,000 million euros of reconstruction funds to the electrification of the car. It is now up to the Government to put forward its view on which should be the final location.

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The EU has promoted the idea of ten such factories across the continent, on the back of which the Generalitat Valencia put together a consortium of local companies with the intention being to secure one of the plants.

The partners

The Valencian multinational Power Electronics (which has its headquarters and land to grow in Llíria) leads the consortium in which 22 other companies have joined: Ford, Stadler, Iberdrola, Zeleros, UBE, CEV Technologies, Idom, Ampere Energy, Nutai , Astondoa, Grupo Segura, Endurance Motive, Fácil Solutions, Grupo Valautomoción, Grupo Gimeno, Inelcom Technology, Itera Mobility Engineering, Hess, Infamol, Mettecno, Torrecid and Witrac. In addition, the Technological Institute of Energy (ITE), the Institute of Molecular Science of the University of Valencia (Icmol) and the Technological Institute of Chemistry of the Polytechnic University of Valencia (ITQ) have been involved in the project.

Without funds there is no plant

Volkswagen linked the installation of its gigafactory to the granting of European reconstruction funds. Sources familiar with the discussions, according to EFE and confirmed by Levante-EMV, explain that the Volkswagen option in Catalonia has fallen.

Volkswagen have plans to build six such plants with two already in operation, one in Germany and another in Sweden.

The news that Valencia takes the lead to host gigafactory will be widely welcomed in the region, further enhancing its reputation as a motor vehicle producer.


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2021 CPI Index

How Spain Compares To The Rest Of The World Over Fighting Corruption – Olive Press News Spain

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THE image of how tough Spain is on corruption has barely changed in a year, according to the 2021 Corruption Perception Index(CPI). The CPI, published on Tuesday and compiled by Transparency International, is a highly-regarded global measure of anti-corruption efforts. It ranks 180 countries and territories by their perceived level of public sector corruption. Each country’s score is a combination of at least three data sources drawn from 13 different corruption surveys and assessments. These sources are collected by a variety of reputable institutions, including the World Bank and the World Economic Forum. Transparency International point out they have no control whatsoever over the figures. The results are given on a scale of 0 (highly corrupt) to 100 (very clean). The 2021 Index shows Spain scoring 61 compared to joint-leaders Denmark, Finland, and New Zealand with an 88 rating. Spain got a 62 rating in the 2020 study. At the other end of the scale, South Sudan props up the bottom with 11, followed by Syria and Somalia on 13. Spain comes 34th in the table of 180 countries, down by one place on the 2020 Index. It’s 14th among the 27 EU member states. An Transparency International Spain spokesman said that a country like Spain that is ‘among the world’s top 15 economies’ should not be scoring below 70 in the Perception Index if it ‘wants to maintain its image and competitiveness’. READ MORE: A Wasted Decade: How political corruption robbed Spain of success with renewable energiesCORRUPTION SWOOP: High-ranking politicians arrested in Spain’s Valencia on charges of accepting bribes in exchange for public contractsFormer police boss Jose Villarejo facing jail term for ‘running 20 year spying and corruption operation’ that implicated Spain’s…SPECIAL REPORT: How €680 million of Junta de Andalucia cash was embezzled in ERE scandal, Spain’s biggest EVER public…

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Spain announces crackdown on cryptocurrency adverts that ignore investor risks

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SPAIN is clamping down on the advertising of unregulated cryptocurrency investments.

Concerns about investors being ripped-off by bogus claims have prompted a new rule that obliges all crypto advertisements in the country to carry a warning from February 17.

The CNMV, the government agency that regulates securities markets in Spain says that the following disclaimer has to be published in adverts: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.”

Adverts will also have to be ‘clear, fair, and balanced and non-misleading’ according to the CNMV.

The measure is part of a package designed to regulate the sector in Spain and is seen as ground-breaking in Europe.

The rules require digital asset service providers, including social media influencers who are paid to promote crypto, to notify the CNMV about advertising content and to issue the disclaimer about the risks of investing.

Crypto service providers looking to reach 100,000 or more people will have to submit details of adverts at least ten days ahead of publication for approval.

Two popular crypto exchanges, Houbi and Bybit, had warnings issued about them last summer because they were operating without a licence.

The CNMV even took to Twitter in November to rebuke Spanish footballer, Andres Iniesta, who used the social media platform to say he used the exchange firm, Binance.

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Advert disclaimer

Spain announces crackdown on cryptocurrency adverts that ignore investor risks

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SPAIN is clamping down on the advertising of unregulated cryptocurrency investments.

Concerns about investors being ripped-off by bogus claims have prompted a new rule that obliges all crypto advertisements in the country to carry a warning from February 17.

The CNMV, the government agency that regulates securities markets in Spain says that the following disclaimer has to be published in adverts: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.”

Adverts will also have to be ‘clear, fair, and balanced and non-misleading’ according to the CNMV.

The measure is part of a package designed to regulate the sector in Spain and is seen as ground-breaking in Europe.

The rules require digital asset service providers, including social media influencers who are paid to promote crypto, to notify the CNMV about advertising content and to issue the disclaimer about the risks of investing.

Crypto service providers looking to reach 100,000 or more people will have to submit details of adverts at least ten days ahead of publication for approval.

Two popular crypto exchanges, Houbi and Bybit, had warnings issued about them last summer because they were operating without a licence.

The CNMV even took to Twitter in November to rebuke Spanish footballer, Andres Iniesta, who used the social media platform to say he used the exchange firm, Binance.

READ MORE:

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