Europe boosts electric vehicles in Spain with EUR 3 billion

Europe boosts electric vehicles in Spain with EUR 3 billion

Brussels has given the green light to one of the largest electromobility investments of recent years. On 9 December, the spanish government announced that the Strategic Project for the Economic Recovery and Transformation of Electric and Connected Vehicles (PERTE_VEC) was approved by the European Commission, which considered it proportionate to Spain’s needs, particularly because of how it will contribute to the recovery of the country’s automotive sector.

The plan will receive EUR 3 billion of Next Generation EU funds, although the government expects this measure to generate over EUR 24 billion in the period from 2021 to 2023, adding both public and private investments.

Increasing charging infrastructure to 110,000 facilities

It is estimated that the plan could offer a highly significant boost to the electric vehicle industry in Spain, as it is expected to expand charging infrastructure with up to 110,000 charging points in the country by 2023. In terms of vehicles, 250,000 all-electric registrations are expected within the same period, allowing electromobility to definitively take off in Spain. The measure could also result in 140,000 jobs in the automotive sector, and its contribution to Spain’s GDP would be between 1% and 1.7% of the country’s total.

The automotive industry is one of the most important economic sectors in Spain, not only in terms of jobs, but also because it is one of the main contributors to the trade balance. In fact, Spain is the second largest vehicle manufacturer in Europe and it ranks ninth worldwide. Overall, it represents 11% of total industry turnover, and is the fourth largest export sector, with 15% of total exports abroad.

A “necessary” commitment

The European Commission deemed the project put forward by the Ministry of Industry, Trade and Tourism a necessary commitment to facilitate investments in R&D and in environmental protection measures in the supply chain for electric and connected vehicles. “The project will help develop the electric vehicle chain and play an important role in the green and digital recovery of the Spanish economy,” said Commission Vice-President, Margrethe Vestager.

The Spanish Minister of Industry, Trade and Tourism, María Reyes Maroto, said that “this project is a historic opportunity to turn the manufacturer of electric and connected vehicles into a driving project that strengthens the automotive industry throughout the country.” She also stressed that “we have the industrial capacities and the leadership of companies to invest in the mobility of the future that will be more sustainable, digital, connected and safe.”

Public investment in the PERTE_VEC, approved in December, is complemented with grants from the MOVES Plan, the MOVES Programme for Unique Projects, the CDTI’s sustainable mobility technology programme, artificial technology and connected vehicles, amounting to EUR 4.3 billion. According to the Spanish government, this is a boost that could result in a total investment of EUR 24 billion.

Last posts

Circontrol implements “Autocharge” functionality in all its DC EV charging stations

This feature allows to start the charge of an EV automatically Circontrol, a leading manufacturer of electric vehicle (EV) charging solutions, now includes the functionality Autocharge in all its DC EV Charging Stations. This feature allows charging to start automatically when the vehicle is connected to the charging point without requiring additional authentication from the […]

Read more

Circontrol strengthens its commitment to sustainability

Since its founding, Circontrol has distinguished itself through a clear commitment to sustainability, contributing with its products and solutions to create an energetically sustainable world in the context of the global energy transition. The company maintains and reaffirms its unwavering commitment to electric mobility, as well as to energy efficiency. Circontrol’s vision extends beyond its […]

Read more

Circontrol renews its Bronze Medal from EcoVadis

This certification evaluates the company across four key areas: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement Circontrol is pleased to announce that it has concluded the year 2024 by renovating its Bronze Medal from EcoVadis. In contrast with 2023, this year the medal was only awarded to the top 35% of rated companies. […]

Read more