Spain gives 4.3 billion for e-auto production

Spain gives 4.3 billion for e-auto production-billion

Spain wants to invest a total of around 4.3 billion euros by 2023 to boost the production of electric vehicles and batteries in the country. The program should be financed mainly from the EU reconstruction fund. This reports “Electrive.Net “citing the government in Madrid.

Another 19.7 billion euros in investment should therefore be made by the private sector by 2023 by 2023. The state fairing is intended to provide the ensuing impetus. Spain‘s government expects that with the new program up to 140.000 new jobs can be created. In 2030, the auto industry should then already make up about 15 percent of Spanish economic output.

“It is important that Spain reacts and anticipates this change in the European automotive sector,” Spain‘s Prime Minister Pedro Sanchez is quoted. Spain is the second largest car country in Europe to Germany – not only with the trademarks Seat and Cupra, but also with works by Stellantis, Renault, Ford and Daimler.

With the project, the Spanish government does not only want to boost the domestic industry, but also the sales of electric cars. The aim is that the number of newly authorized electric vehicles in 2023 the brand of 250.000 will be reached – in 2020 this value was still with just 18.000. In April of this year, the Government had already set its new emobile subsidy program “Moves III” in Madrid, which includes buying bonuses and investments in charging infrastructure. The funding pot was first equipped with a budget of 400 million euros.

As far as the production of electric cars is concerned, Seat had already announced in March, from 2025 in Spain 500.000 Urban Stromber for several Volkswagen Group brands. In addition, the Spanish state wants to build a battery cell factory for electric cars as part of a public-private consortium with SEAT and the energy company Iberdrola. This could be heard according to one of the six European gigafactories, with which the VW Group wants to cover its battery requirements until 2030. There may be this production in the former Nissan factory in Barcelona – but there are other interested parties.

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