Spain’s electric cars to get boost

MADRID — The Spanish government will invest $5.1 billion from its share of European pandemic recovery funds to revamp its automobile industry and steer it toward manufacturing electric vehicles and their components, Prime Minister Pedro Sanchez announced Monday.

His left-wing coalition government wants to inject the money in all segments of the car manufacturing chain, from lithium extraction to electric battery cell assembly lines, the leader of Spain’s ruling socialist party said.

Sanchez was speaking at an event to introduce the first of seven plans to transform Spain’s industries with the $166 billion that the country is expected to get over next six years from the EU’s Next Generation funds.