Industry approves more than 700 million in 10 Perte VEC projects

by time news

The Government’s recovery plans, which are articulated by the Brussels Next Generation funds, are advancing, although perhaps not at the pace or intensity that the automotive industry would like. After delaying the publication of the call for two months —it was necessary to modify a clause that included the participation threshold for SMEs— and extending its term —only one month was available, which coincided with Easter—, the Provisional resolution of the Electric and Connected Vehicle Part (VEC), which has given the go-ahead to 10 of the 13 projects presented.

In total, 702,675,994 euros will be allocated to the driving initiatives, 23.6% of the 2,975 million mobilized by the Ministry of Industry. These will be divided into direct subsidies and credits: 476.3 million and 226.3 million, respectively.

Of the 10 companies that have received the approval of the General Directorate of Industry, Seat is the most favored, with 167.3 million. Of these, 95.1 are grants and 72.1 credits. Thanks to Perte VEC, the Volkswagen Group has allocated 10,000 million to electrify its Spanish plants in Barcelona and Navarra, as well as to create a battery factory in Sagunto.

In second place is Mercedes-Benz, which will receive 159.3 million. Of these, the greater part, 91.9, will be in the form of credits and the remaining 67.4 million, in direct subsidies. The Vitoria factory is waiting for Stuttgart to confirm an investment plan to transform the facilities that could amount to 1,200 million euros.

Ford closes the podium of beneficiaries, with 106.3 million granted, 68.5 in capital injection and 37.8 million in loans. The blue oval won the bid for the German plant in Saarlouis at the end of June and will receive the GE-2 electric platform, which will be the basis for the zero-emission models that they assemble from 2025.

They are followed by the Nissan Barcelona reindustrialization project, the electromobility Hub led by QEV Technologies and Btech, with a budget of 105.1 million. After the Hub, the Stellantis Tesis project in Zaragoza, which will receive 42.4 million to adapt its lines to the arrival of the zero-emission Peugeot 208 and Lancia Ypsilon in 2023.

Then, Renault has received 39.7 million and the diamond mark is followed by Faurecia, Sapa, Irizar and Fagor, who have 25.9; 25.2; 24 and 7.1 million euros.

Dismissed projects

In addition to the more than 700 million provisionally approved, there are three that have not met the conditions of the Perte bases. Stellantis, although it did bring them together for its project in Zaragoza, Thesis, did not do so for the one in Madrid and Galicia, called Aries.

The most far-reaching one that was left out was that of the battery factory in Navalmoral de la Mata (Cáceres), a tractor project presented by Envision AESC and Acciona that would have a capacity of 10 GWh per year in 2025 with the potential to expand up to 30 GWh for the end of the decade. The planned investment by companies was 1,000 million and would create more than 3,000 jobs.

Finally, the third initiative to be discarded was that of the Rieju motorcycle brand. All projects, whether they had received the approval of Industry or not, will have one month to present allegations.

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