The Government responds to Volkswagen and doubles the PERTE aid
The Government has granted 397.37 million euros of aid to the project presented by the Volkswagen group and Seat to the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (Perte VEC), which means more than doubling (+137%) the amount awarded in the provisional resolution, published last August. The project Opel ‘thesis’ for the Figueruelas factory (Zaragoza) sees aid increased by 23% above the provisional figure.
The Executive has announced this Tuesday the definitive details of the granting of aid linked to the Perte VEC and that will finally subsidize ten initiatives, of the thirteen presented at the beginning. However, Ford withdrew its proposal, so only the consortia of companies led by Rieju and Global Gabes (linked to the Navalmoral de la Mata battery gigafactory in Extremadura) were left out.
Total, the Perte VEC will distribute aid to ten projects of groupings of companies amounting to 877.2 million euros, which represents 29.5% of the total budget of 2,975 million euros and improves the provisional award of 600 million and which covered nearly 20% of the budget. From the Executive they highlighted that the funds awarded definitively exceed by almost 300 million euros those granted provisionally and pointed out that these will mobilize investments by the private sector for 2,250 million euros.
The Minister of Industry, Commerce and Tourism, Kings Marotostated that the financial projects in the first call for the Perte VEC “show the great potential” that Spain has to lead electromobility in Europe and reinforce the Government’s commitment to supporting the transformation of the automobile industry towards more sustainable mobility.
“From the Ministry we are going to continue working to make more public resources available to the sector to accompany the important investments that our business ecosystem has to make to electrify its production chain and new global players that want to invest in our country,” he added.
The ‘Future: Fast Forward’ project of the Volkswagen group and led by Seat, which includes the start-up of a battery plant in Sagunto (Valencia), is the one that will receive the largest amount of aid, with 367.37 million, compared to to the initial allocation of 167.3 million.
In In second place, by volume of incentives, is Mercedes-Benz, with its comprehensive transformation project of the electric mobility value chain for sustainability and competitiveness in the development and manufacture of an electric minivan in Vitoria. The endowment of this initiative is 170.4 million euros, 6.9% of what was initially distributed.
On its side, the Hub-dCO2 decarbonization project for the adaptive, modular and multi-reference manufacturing of electric cars will receive 107.8 million euros (2.6% more) and Tesis, led by Opel, will receive aid for 52.2 million (a figure 23% higher than the provisional).
Also, the Government will distribute 40.06 million euros (+2.2%) to Renault’s initiative to create an industrial ecosystem of innovation for the production of electric and connected vehicles in Spain, while the project led by SAPA will obtain 32.86 million (+30%).
The initiative headed by Faurecia will have aid for 28.2 million, an increase of 8.8% compared to the initial document, the one led by Irizar will have 24.18 million, 0.6% more, and that of Fagor will have 8.78 million incentives, a 22% increase. The main novelty of this definitive list of Perte VEC grants is the incorporation of the ARIES proposal, led by Stellantis, for the Vigo factory, with a grant of 15.19 million euros.
From the Ministry of Industry, Commerce and Tourism they recalled that, from this moment, the winning companies will have to present the required guarantees, with the forecast that the funds will begin to be distributed before the end of the year. the intention ands advance 90% of the total amount of aid to each beneficiary. In addition, the Executive, once the first edition of the Perte VEC is over, will launch a second call “to offer continuity in the support that the sector needs to tackle electrification successfully”.
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