Brussels disburses 3,000 million for the Spanish PERTE of the automobile

Green light to the strategy of the Government of Spain in favor of the ‘green automotive’. The European Commission approved this Thursday 3,000 million euros in aid destined to the Strategic Project for the Recovery and Economic Transformation (PERTE) of the electric and connected vehicle, which It will be financed by the Recovery and Resilience mechanism (RRF). This is the first plan presented by the Spanish Executive through the Ministry of Industry, Tourism and Trade, which Brussels authorizes and which will be financed, in part, with ‘Next Generation EU’ funds, according to a statement sent by the portfolio that directs Reyes Maroto.

The PERTE is directed to one of the strategic sectors of the Spanish economy, with a driving effect due to its weight in the national GDP and direct and indirect employment and its contribution to the trade balance, according to the Ministry itself. And it is that, Spain is the second European vehicle manufacturer and the ninth worldwide. It represents 11% of the turnover of the industrial total. The automotive industry is the fourth largest export sector and represents 15% of total Spanish exports.

Up to 140,000 jobs

Job creation generated by PERTE could reach 140,000 jobs and the contribution to GDP would be between 1% and 1.7%. Other expected impacts would be to reach 250,000 registered electric vehicles in 2023 and between 80,000 and 110,000 recharging points deployed. For the Minister of Industry, Commerce and Tourism, Reyes Maroto, “this is magnificent news after months of negotiations with Brussels. The authorization of the European Commission will serve for the digital and sustainable recovery of a sector such as the automotive sector, where Spain is one of the main European manufacturers. This project is a historic opportunity to turn the manufacturing of the electric and connected vehicle into a tractor project that strengthens the automotive industry throughout the country.

The President of the Government, Pedro Sánchez, speaks at the 24th General Assembly of the World Tourism Organization, this Thursday, in Madrid.

For the Government of Spain, the automotive sector is a priority and it will be the protagonist of the Recovery Plan since we have the industrial capacities and the leadership of the companies to invest in the mobility of the future, a mobility thatIt will be more sustainable, digital, connected and secure ”.

After examining PERTE in detail, the Commission has concluded that initiative is necessary to facilitate investments in R&D and environmental protection measures in the supply chain for electric and connected vehicles. These 3,000 million will also have an incentive effect, since the projects would not be carried out in the absence of public support.

Aid, an industrial part of PERTE

The 3,000 million euros correspond to the industrial part of PERTE. Then it is completed with the aid of the Plan Moves, the Pprogram Moves Singular projects, the technological program of sustainable mobility of the CDTI, artificial intelligence and connected vehicle until reaching 4,300 million euros. In this way, the development of the project foresees a total investment of more than 24,000 million euros in the period 2021-2023 between public and private investments. The objective is to create the necessary ecosystem for the manufacture of electric vehicles and connected to the network and turn Spain into Europe’s ‘hub’ for electromobility.

“The project will help develop the electric vehicle chain and it will play an important role in the green and digital recovery of the Spanish economy ”, highlights the Vice-President of the Commission, Margrethe Vestager, Brussels establishes that the aid is proportionate and limited to the minimum necessary. In particular, the eligible projects, the eligible costs and the maximum intensity of public aid comply with the Community guidelines.

Competitive selection process

The grants, which will be awarded through a competitive selection process and in the form of direct grants and preferential loans on favorable terms, They are open to consortia of companies, established both inside and outside of Spain. Each consortium will include companies active in different sectors related to electric and connected vehicles, and at least 40% of the partners must be small and medium-sized enterprises (SMEs).

Source: LA INFORMACIÓN – Lo último by

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