Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
PowerCo is a company located in Sagunto (Valencia) and specialised in the production of electric batteries for the Volkswagen Group (Gigafactory). In 2026, the company plans to hire 500 new professionals, primarily for production, maintenance, quality control, and logistics, bringing its workforce to approximately 800 employees by year-end.
Around 1,400 workers are currently involved in the project, including engineers, builders, and designers. The installation of the highly controlled “clean and dry rooms,” crucial for ensuring battery cell quality, has already begun. These facilities, covering 57,000 m² across 17 rooms, will maintain ultra-low humidity levels and particle-free environments to protect materials such as cathodes and electrolytes. Completion of the first production block and logistics buildings are expected before Christmas. The facility, representing a total investment of €3 billion, is on track to begin cell manufacturing by September 2026.
Eurofound (2025), PowerCo, Business expansion in Spain, factsheet number 203738, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203738.