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Brussels gives government green light to extend investment deadline for electric vehicle PERTE

The Minister of Industry, Trade and Tourism Reyes Maroto confirmed that the European Commission gave Spain the green light to allow car manufacturing companies to extend the period of implementation of the investments that they intend to finance with European funds.

Marotto noted that Brussels has “approved the expansion of investments” in the area of ​​PERTE, a strategic project for the recovery and transformation of the economy, related to the electric car. The initial period, which, in principle, was calculated until 2025, and finally, it will be extended until 2028.

In addition, it is noted that the new calls will make it possible to “make concepts more flexible and financed” through these funds, as well as “reduce guarantees for access to state aid.”

Reyes Maroto also noted that the executive authority is working on a line of funds that will complement the second call for PERTE VEC (Electric and Connected Vehicles), which will allow “individual projects that affect the different links of the value chain.” One of the demands of companies in recent months, which required access to European funds without creating associations with other entities.

Expand alliance for power generation

In this sense, Marotto asked to “continue trust in instruments” such as European funds and promoted that in the coming weeks an “alliance for PERTE VEC” will be created with new actors such as universities that. We want to be part of the ecosystem. Also, with business associations such as Ametik to “promote public-private cooperation”.

As for the funds themselves, the minister and PSOE mayoral candidate for Madrid revealed that 2,069 million euros have already been mobilized, 50% of the total amount. Of this figure, more than 1,300 million have already reached the value chain and citizens, he added.

This explanation of the PERTE electric car case coincides with a visit to Spain by a European funds control mission made up of members of the European Parliament. A mission organized by the European People’s Party.

Regardless of funds and timelines, the auto industry is asking for more help to boost sales of electric vehicles. In this regard, Reyes Marotto suggests that the commercialization of these models needs to be promoted. “We have data that forces us to be proactive when it comes to accelerating the purchase of electrified vehicles, strengthening the tools,” he assured, without specifying what the measures would be.

Source: El Diario

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