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The Government announces 10,000 million for the automotive industry in three years

2020-11-24T00:35:38.044Z


The Minister of Industry, Reyes Maroto, points out that the plan for the sector will have three investment lines based on the European Next Generation EU mechanism


The Minister of Industry, Commerce and Tourism, Reyes Maroto (center), presides over the Automotive Table, in Zaragoza, this Monday.

Europa Press

The Spanish Government announced this Monday an investment in the automotive sector of 10 billion euros in the next three years.

The resources come from the European Next Generation EU mechanism and their objective is to relaunch an industry affected by the pandemic, but also in need of new resources to take the step towards the transformation towards the electric vehicle and the reduction of emissions.

The plan presented by the Minister of Industry, Reyes Maroto, multiplies almost by three the one announced just six months ago, of 3,750 million euros, and which included the new aid for the acquisition of vehicles released this year.

The head of industry has indicated that this effort means dedicating 14% of the European funds that arrive in Spain to the automotive sector.

The Government has announced that it is working on the possible implementation of a vehicle battery factory in Spain, in which Spanish companies and some international companies would participate.

Although the most specific project has been mentioned by the Aragonese president, Javier Lambán, who has assured that PSA will invest up to 230 million euros to manufacture medium and high-end electric vehicles at its plant in Figueruelas (Zaragoza), where it now produces an electric Corsa .

The announcement has been made by the Government in the framework of the second meeting of the Automotive Board, held this Monday in Zaragoza and to which the different actors in the sector and representatives of the autonomous communities have joined telematically.

The largest item will go to the sustainable mobility shock plan, with more than 6,000 million euros and which involves an urban redefinition with the promotion of low-emission zones in Spanish cities, the massive deployment of recharging infrastructure to encourage the car electricity and the modernization of the public fleet of clean vehicles.

Likewise, as the fourth vice president and minister for the Ecological Transition, Teresa Ribera, had advanced, the Government will allocate 1,500 million euros to develop green hydrogen, the technology that is considered the most optimal to coexist with electric cars.

And the industry, which was demanding direct resources to transform, will receive around 1,200 million euros directed to digitization, connectivity and 5G and the improvement of energy efficiency.

Regarding the support plan approved last June, on which the Renove and Moves II plans depend to renew the vehicle fleet, Maroto has indicated that "it is being effective and has allowed the reactivation of the sector after the hard months of confinement."

Source: elparis

All business articles on 2020-11-24

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