Volkswagen will study the funds allocated from the Perte VEC to execute the maximum possible projects

MADRID, 25 Oct.

Volkswagen will study the funds allocated from the Perte VEC to execute the maximum possible projects


The Volkswagen group and Seat, together with the 60 companies that make up the 'Future: Fast Forward' initiative, will study the funds awarded definitively within the framework of the Strategic Project for the Recovery and Economic Transformation of the Electric and Connected Vehicle (Perte VEC) to find solutions when carrying out the greatest possible number of projects.

The companies will analyze the effects of this resolution "in all the projects with the purpose of finding the appropriate solutions to be able to execute the maximum possible volume of the planned investment projects," they explained from the company.

These sources indicated that the 'Future: Fast Forward' project plans to mobilize 10,000 million euros in Spain, which will mean the "largest industrial investment in history" in Spain, including the 3,000 million euros linked to the Sagunto battery gigafactory (Valencia).

"Seat, the Volkswagen group and the 60 companies that are part of 'Future: Fast Forward' are committed to the electrification of the Spanish automobile industry and we want to mobilize 10,000 million euros," they explained.

The initiative of the Volkswagen group and led by Seat, whose flagship project is the gigafactory in Valencia, is the one that will receive the largest amount of aid, with 367.37 million, compared to the initial allocation of 167.3 million, which represents the 45% of the funds distributed by the Executive (877 million).

The Government published on Tuesday the final list of aid linked to the Perte VEC, which includes the distribution of 877.2 million euros, out of a total budget of 2,975 million euros.

Provisionally, some 600 million euros had been awarded, accounting for 20% of the budget, so that with the new distribution of the aid, the figure already represents almost 30% of the funds contemplated in the Perte VEC, which, by not exhausting this amount, will have a new call from the first quarter of next year.

This increase in subsidies for the 'Future: Fast Forward' project occurs a few days after the automobile consortium warned that they would analyze the funds awarded to verify the viability of their projects in Spain and that they asked the Executive for speed in the publication of the final resolution.