2035. That is the date that Europe has marked on the calendar as the end of the sale of new gasoline and diesel vehicles. Despite the voices against it, the EU believes that removing the combustion cars and reduce emissions of those sold until then is the way to get the decarbonization goals. Spain has to join this initiative and, to do so, it has just added 400 million euros more to the PERTE VEC project.
Because the future of mobility seems to be electric… or it won’t be.
PERTE VEC. The Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle, or PERTE VECit is a initiative which was approved in July 2021 with the aim of creating a favorable Spanish ecosystem for the development and manufacturing of electric vehicles.
It is a program that foresees a total investment of more than 24,000 million euros with a public contribution of more than 4,000 million and, the rest, private investment. And the objective is that: to help companies see Spain as an interesting ecosystem to carry out the vehicle development and manufacturing process. This includes production, but also innovation and research in components, batteries and other technologies associated with the electric vehicle.
400 million more. With this objective of facilitating the green transition of the automobile fleet, the Ministry of Industry and Tourism just launched the fourth call of the PERTE VEC. In total, 400 million euros more to give value to this production chain, which are divided into:
- 250 million euros as repayable loans to a fixed interest of 2.8% and a term of 10 years.
- 150 million euros in direct subsidies.
New call. Companies that wish to do so have from October 14, 2025 to October 24 to register. These 400 million are a fraction of the total of PERTE VEC IV, which has a budget of 1,250 million euros that will be released in successive phases. And no, it is not a program like the MOVES III, which directly concerns the consumer: the PERTE VEC is focused on companies.
A limitation is that they cannot be public sector companies and must have demonstrated capacity to carry out their projects. Complying with this, the beneficiaries can be all those companies with their own legal personality in our country that carry out activities related to the development of electric vehicles. This implies that they do not have to be the big brands, but also companies that manufacture batteries, electrical components, charging systems or even those that develop software.
Chinese brands included. As long as they meet the requirements, Chinese companies can also benefit from this. The Asian giant saw before many others the importance of the transition to electric as a way to support the achievement of decarbonization objectives and, in fact, this European ambition is something that we have been witnesses for months.
The objective of measures like this is, precisely, that value chains are established in our territory and that companies are not limited to bring your cars on big ships from china either simply to assemble them in Europebut to make them here. And an example that Chinese companies are welcome was the formal invitation from the Ministry of Industry to the Chery company to present its application to the PERTE VEC.
Image | Stellantis
GIPHY App Key not set. Please check settings