The Ministry of Industry, Trade and Tourism has approved the final resolution of the support line for the industrial value chain of the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (PERTE_VEC).

TDB keeps you informed. Follow us on Facebook, Twitter and Instagram.

The public investment is 877.2 million euros, which will mobilise investments worth 2.25 billion euros in the sector.

This aid programme for PERTE VEC industrial projects, whose final resolution has been approved, is in addition to other lines that are being implemented such as the Moves Plan, which so far has mobilised 626 million euros, the Moves Programme for Singular Projects I and II with 364 million euros, the sustainable mobility technology programme of the Centre for the Development of Industrial Technology (CDTI) with 40 million euros, the Moves Fleets with 50 million euros and the programme to integrate artificial intelligence into value chains to transform the economic fabric with 45 million euros. The public resources committed to helping the automotive sector exceed 2 billion euros.

The Minister of Industry, Trade and Tourism, Reyes Maroto, said that, with the step taken today, “the Government is strengthening its commitment to the entire Spanish automotive ecosystem and to the development of new activities around the industrial value chain of the electric and connected vehicle, advancing towards the goal of making Spain a leader in electromobility at European level. These investments will help to strengthen our industrial autonomy and enable the Spanish and European automotive industry to develop disruptive changes in its value chain and business model that will allow it to maintain its global leadership”.

Next week, the final decision will be notified to each business group that has been awarded and will be published on the Ministry’s website. In addition, the awarded companies will have to present the required guarantees and the forecast is that they will begin to receive the money before the end of the year. In general, 90% of the total amount of aid granted to each beneficiary will be advanced.

Once the first call for this line of support for the industrial value chain has ended, a new call will be opened to provide continuity in the support the sector needs to successfully tackle electrification.