Gianluca Baratti
Verified- Partner - Global Head of Market Data, Valuations and Analytics, S&P Global Commodity Insights
Madrid
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Trump threatens to cut trade ties with key energy buyer Spain
US President Donald Trump threatened to cut trade ties with Spain on July 8, reigniting tensions with one of the US's largest European energy consumers. Addressing a press briefing in Ankara ahead of a NATO meeting, Trump criticized Spain for underfunding its defense, calling it a "terrible partner" in the alliance. "They don't participate. They don't pay. I don't want anything to do with Spain. Cut off all trade with Spain, please, including visits," Trump said.
Eni starts construction of LFP battery production site in Italy
Eni Storage Systems, jointly owned by Eni Industrial Evolution and FIB, part of Seri Industrial Group, began construction of a new production site at Brindisi, Italy, to produce lithium-iron-phosphate (LFP) batteries, Eni said July 6.
Spain invests €138M in China’s Gotion Tech cathode plant
Spain’s government said July 1 it will invest in a project by Chinese group Gotion Tech to produce cathodes and develop an advanced battery recycling system to recover strategic raw materials for the electric vehicle industry in central Spain. The €940 million project at Valladolid will receive €138 million in public funding from Spain's Perte VEC program, which has already provided €3 billion in support for most of Spain's main EV projects.
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