The Government promotes electric mobility with 200 million in aid to battery manufacturers

Last June, the Government launched a new call for aid worth 200 million euros allocated to manufacturers of batteries for electric vehicles, as part of the Strategic Project for the Recovery and Economic Transformation of the Battery Electric Vehicle (Perte VEC III). With this initiative, it is hoped to give a great boost to the sector, as well as promote the transition towards more sustainable mobility in Spain.

The Ministry of Industry and Tourism announced that The application period will start on June 17 and will run until July 19 at 2:00 p.m.This new call for proposals aims to replicate the success of the previous one, in which more than 90% of the available funds were allocated. 509 million euros in grants and 100 million in loans were awarded to more than twenty projects.

The opening of the new application period comes at a time of criticism from the sector for the recent resignation of Wayne Griffiths, President of the Spanish Association of Automobile and Truck Manufacturers (Anfac), due to what he described as “inaction by the Government in favour of electrification.” The Minister of Industry has responded to these criticisms by assuring that The Government is investing “not hundreds, but billions of euros” in electrification with the aim of improving the charging network and promoting new incentives for consumers.

Call details

This third edition of Perte VEC III is endowed with a total of 500 million eurosof which 300 million are allocated to the electric vehicle battery line (200 million in grants and 100 million in loans), and an additional 200 million for the sector’s value chain. The wording of the call for proposals has been improved compared to 2023 in order to improve its application and development, the Ministry reported.

An electric future for Spain

With these new aids, the Government seeks not only Supporting battery manufacturersbut also accelerate the transformation towards a more sustainable mobility model and less dependent on fossil fuels. The commitment to electrification is a key piece in the country’s economic recovery and industrial transformation strategy, with a view to leading the energy transition in Europe.