EV battery maker InoBat Auto said it had signed “protocols and declarations of intent” with Spanish authorities for the construction of a new factory in Valladolid.

That does not guarantee a plant will actually be built but it appears likely the project will proceed.

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“While the declaration of intent is not a finalised agreement and other locations remain under consideration, Valladolid’s wealth of talent, access to renewable energy, proximity to other OEMs and strong transport links make it a very attractive location for InoBat’s next facility,” the company said in a statement.

“The signing of protocols and declarations of intent with Valladolid City Council, Junta de Castilla y León, and the ministry of industry will ensure that, if Spain is selected, InoBat will have the necessary permits and governmental support to progress the project at pace.”

The company plans eventually to build a network of EV battery factories worldwide.

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“When the decision on InoBat’s gigafactory location in Western Europe is finalised, this facility will complement the current plant in Voderady, Slovakia and recently announced site in Indiana, US,” the company said.

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“All these locations, both confirmed and under consideration, are attractive due to key characteristics such as their access to renewable energy, future customers, and skilled labour.”

CEO Marian Bocek added: “Valladolid is an ideal prospective location for our next facility – it is the beating heart of Spain’s automotive and engineering sectors and has extremely competitive access to suppliers, customers and, most importantly, EV talent.”