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The plan will involve a private investment of 11,900 million euros, which is added to the 2,975 million approved NextGen funds approved by the European Union.
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The business consortia that opt for the loans must have their projects completed (among which are the production of electric cars at SEat Martorell and Volkswagen Navarra) with a deadline of September 30, 2025.
The Government has given the ‘on’ button to most ambitious industrial plan for the automotive sector in Spain of the last 50 years: the PERTE for the development of electric and connected vehicles. The Official State Gazette (BOE) has published today the bases by which this will be governed aid program and that has a total amount of 2,975 million euros. The objective of this plan, encompassed in the so-called Recovery, Transformation and Resilience Plan, is to distribute and apply the fondos NextGen granted and approved a couple of weeks ago by the European Commission. It was time to get down to business seriously.
The approval and launch of PERTE opens a race against time for present industrial projects and proposals that affect the entire value chain of the automobile industry in Spain. These projects, after being studied and validated by the Government and the Ministry of Industry, Commerce and Tourism, will receive financial support to be activated. The maximum budget for the aid to be granted for the period 2021-2023 will be 2,975 million euros, of which 1,425 million will be in the form of a loan and 1,550 million in the form of grants. The companies that are awarded must carry out their projects with a deadline of September 30, 2025.
Electrical in Martorell
This start-up will mobilize a private investment of about 11.9 billion euros, between the different companies that are grouped in the candidacies. Among others is the investment that the Volkswagen Group for small electric vehicles to be manufactured at the Seat plant in Martorell and Electric SUV’s in that of Volkswagen in Landaben (Navarra).
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The grants granted may be multi-year and formalized as loans through the national budget, grants with financing from the recovery and resilience mechanism, or as a combination of both. The establishment of the regulatory bases for the selection and granting, in a competitive competition regime, of the corresponding aids, is the step prior to the publication of the call that will open the deadlines for the presentation of the projects. Once this procedure is opened by the Government, the candidates will compete to obtain the aid to carry out their investments.
This plan is strategic for the automotive industry in Spain that represents 11% of the turnover annual of the industry in our country. Spain is the second European manufacturer of vehicles and nineth worldwide, with a volume of 80% export of production (which represents 15% of Spanish exports). Behind the initial objective of PERTE is to turn Spain into a European Electromobility Industrial Hub.
Reference-www.elperiodico.com