Volkswagen and Ford will receive 24% of the first 703 million awarded in the PERTE of the electric vehicle

Volkswagen and Ford will receive 24% of the first 703 million awarded in the PERTE of the electric vehicle

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The president of the Generalitat, Ximo Puig, has highlighted that all the initiatives presented to the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (Perte VEC) in which there is participation of Valencian companies will receive aid.

The Volkswagen gigafactory in Sagunt: an investment of 4,000 million and annual purchases worth 8,000 million

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This is how it has valued the first 702.7 million euros awarded by the Ministry of Industry to ten of the projects presented to the Perte VEC, 23.62% of the 2,975 million initially assigned.

Among the beneficiaries are Seat with its ‘Future: Fast Forward’ project, which includes the future Volkswagen battery gigafactory in Sagunto (Valencia); Ford, with a plant in Almussafes (Valencia), and Faurecia with centers in Almussafes and Paterna (Valencia).

Puig, to questions from journalists at an event in Dénia, recalled that this is only a first award and has trusted that the next ones will increase the allocation for the initiatives promoted by the Community.

“In any case, we are satisfied that all Valencian companies have support, especially the gigafactory or Ford -he declared-. They are two great tractor projects that are not only going to reside in certain regions or sectors, but also absolutely expand the capacity and synergies to increase employment”.

Awarded 23% of the grants from the Perte

The Ministry of Industry, Commerce and Tourism has awarded 702.7 million euros to ten of the projects presented to the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (Perte VEC), 23.62% of the 2,975 million initially assigned.

According to the provisional resolution proposed by the General Directorate for Industry and SMEs, there would still be more than 76% of the aid to be allocated, that is, more than 2,200 million euros. The provisionally approved projects have an eligible value of 1,765 million euros.

Last Friday, June 3, the deadline for submitting the projects to the Perte VEC ended, after two extensions granted by the Executive, since it initially ended on May 3 and later on May 17.

After the deadline, the Ministry received a total of 13 applications from 13 different business groups, with a value of 5,927 million euros of eligible investment.

Seat, the most benefited

Seat, with its Future: Fast Forward project, would receive 167.32 million, which represents 23.8% of the 702.7 million allocated to date. Of the total, 72.16 million in the form of loans and 95.16 million in subsidies.

Mercedes-Benz, for its part, would receive 159.34 million euros, 22.68% of the total, with a 91.94 million loan and a 67.4 million subsidy.

Ford, for its part, would obtain 106.34 million euros in aid, 15% of the total assigned, while the ‘hub’, led by QEV Technologies and BTech, would obtain 105.1 million euros, 14.96%. In addition, Stellantis would receive 42.47 million euros, 6.04%, for the Zaragoza factory and Renault, 5.66%, about 39.74 million euros.

Likewise, Faurecia, Sapa and Irizar will receive more than 24 million each, around 3.5% of the total of 702.7 million. Fagor would receive the least aid, 1% of the total, around 7.19 million euros.

However, the Stellantis project for Madrid and Galicia, the Extremadura gigafactory, promoted by the Envision group, and the Rieju group project have been denied aid since they do not comply with the minimum structure established in the bases of the Projects.

Now, the term opens to present arguments both to each primary project and to the tractor project, as well as to the evaluation of the economic viability of the entities that are part of the group.

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