The Government approves a new aid package for electric cars of 560 million euros

The Ministry of Industry, Commerce and Tourism has published a new aid package for electric cars within the second part of the Perte VEC with a budget of 560 million euros. The Executive had approved a first line of aid, endowed with 850 million euros, which was directed to the production of batteries. And now he completes it with subsidies to the industry value chain of the electric and connected vehicle.

As explained by the Ministry of Industry, Commerce and Tourism in a press release, the call window, which has a budget of 344 million euros in subsidies and 215 million in aid, will be open from next August 16 to September 15. This call is aimed at supporting plans aimed at the industrial value chain of electric and connected vehicles, their systems, subsystems and components, and auxiliary infrastructure systems necessary for their deployment.

“This is a decisive step that responds to the industry demands of the automotive sector in Spain and which places us at the forefront of green and sustainable mobility in Europe”, said the Minister of Industry, Hector Gomez.

The term of execution of the projects will be either until forty months counted from the date of resolution of the concession, extendable twelve more, or sixty months from the same date.

Among the changes compared to the failed first edition of Perte VEC, the scheme of the group of companies around a driving project for one based on individual projects for companies in the most agile and dynamic sector. Also, it has established a simple concurrency system that will allow the projects to be resolved in order of arrival, and the execution terms of the projects and investments that are presented have been extended.

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The Perte VEC was approved on July 13, 2021, with a public sector investment of 4,295 million euros. In the first call, for the line of development and manufacture of electric vehicles, aid was granted to ten major tractor projects for a value of 794 million euros (526 million in grants and 268 million in loans).

The manufacturing industry then pointed out that it was necessary to modify the Perte, and demanded to somewhat extend the deadlines for the execution of the projects in order to accommodate the investment planning calendars of the automobile manufacturing companies.

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