The aid to promote the electric vehicle will mobilize 12,000 million | Economy

The aid package to promote the conversion of the automobile industry towards the electric vehicle will mobilize around 12,000 million euros. It was announced this Wednesday by the President of the Government, Pedro Sánchez, in the plenary session of Congress, in which he underlined a majority presence of SMEs in terms of the number of companies and the fact that the construction of two factories has been assured of batteries, one in Sagunto (Valencian Community) promoted by the Volkswagen Group and another in Navalmoral de la Mata (Extremadura), led by the Chinese company Envision.

The automotive aid is part of the main Strategic Project for Economic Recovery and Transformation (PERTE) proposed by the Government, with public aid of 2,975 million euros, between non-refundable resources and soft loans. Sánchez has highlighted in his appearance that investments are essential for the Spanish automotive industry to anchor its projects in Spain and be able to face the conversion to assume the manufacture of the new generation of electric vehicles.

According to the data provided in Congress, 311 companies are involved in investments through 13 large groups that have committed to carrying out a total of 487 projects in a large number of autonomous communities.

Of the existing projects, that of the Volkswagen Group will be the one that will receive the largest volume of aid. The consortium led by Herbert Diess has achieved an alliance of 62 companies, including Iberdrola and Bosch, but which arose from the group’s desire to manufacture a small electric vehicle at the Martorell (Barcelona) and Landaben (Pamplona) plants. dimensions. between all those involved they foresee a joint investment of 10,000 million euros. To do this, it will transform these two plants, but it will also add new facilities in Sagunto, a battery cell plant, to its presence in Spain, and it will develop, together with its partners, the entire ecosystem necessary to have essential car components on the Iberian Peninsula electric.

A relevant investment linked to its macro-project is the arrival in Spain of the South Korean multinational Iljin, which will build an elecfoil plant in Tarragona, a basic component for the manufacture of battery cells. The cost of this investment will amount to 600 million euros.

Stellantis, which controls the Vigo, Zaragoza and Madrid vehicle production factories, has presented two other projects, for an amount that exceeds 223 million euros. With one of them it plans to compete for the allocation of new electric vehicles at its Figueruelas plant, while another of the proposals in contention is based on developing big data and 5G technology in its other two production centers. The other manufacturer with a strong presence in Spain, Renault, has also presented projects around decarbonisation.

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The Chinese manufacturer Envision and the Acciona group are, however, the second group that offers the most investment supported by the PERTE of the electric vehicle. On the last day to apply for public resources, both companies presented a proposal to create a battery factory in Extremadura under the name of Venergy+. It will have an initial capacity of 10 gigawatt hours (GWh), although the ultimate goal is to reach 30 GWh. The estimated investment is 1,000 million euros in its first stage.

The intention of the Ministry of Industry, which will now have to analyze each of the proposals and give its approval, is to be able to start providing subsidies at the end of this year. It is foreseeable that, in addition to the public resources offered by the Government through the PERTE of the electric vehicle, companies can benefit from other aid from autonomous communities. The probable maximum aid that a project such as the Sagunto gigafactory could receive, with an estimated investment of 3,000 million euros, will be around 900 million euros.