volkswagen wants more public money maintaining the battery gigafactory project in Sagunto (Valencia). The government is willing to reach a range between 300 and 380 million and the German group It aims to reach 700 million, according to La Tribuna de la Automoción and approved to Levante-EMV from the Prensa Ibérica group, all sources of solvency. Not evaluating the figures, the company assures that it will make the final decision as soon as the Government announces PERTE assistance for the electric vehicle. It received just 167m euros in provisional approval. automotive company Urgent solution call to PERTE, after weeks of delay in which the decision accumulates. Sagunto gigafactory includes: 3,500 million investments, 3,000 direct jobs and 12,000 indirect jobs.
The company is very upset about the delay in the allocation of funds. “The Spanish automobile industry needs an urgent and positive decision from PERTE, in line with the investments proposed by all companies. accelerating the transformation of the industry Along the value chain”, the firm’s resources assured.
sixty companies
“The Volkswagen Group and 60 companies that are part of Future: Fast Forward want to take action. 10,000 million euros to electrify the auto industry in Spain and transforming the country into a hub for electric mobility in Europe. The development of this investment, the largest in the history of Spanish industry, has always been linked to Next Generation EU funds through PERTE VEC. After the final decision of PERTE VEC is published, SEAT SA, Volkswagen Group and 60 Future: Fast Forward partners will analyze this decision and make a decision on the different projects that make up Future: Fast Forward.”
Sources from the Generalitat’s presidency, “there are contradictions but they are trying to fix itOther sources add that Generalitat is “relentlessly and tirelessly working to ensure that the Sagunto project is carried out as planned.”
Volkswagen’s inconsistencies with the amount of aid jeopardized the group’s entire electrification project in Spain. “It’s not just the gigafactory that’s at stake. It is the entire investment in the electric vehicle that affects the Martorell and Navarra factories,” sources familiar with the situation add to this paper.
Alarm
In September, the auto group sounded alarm when it warned those responsible for negotiating funds that its plants in Spain and the Sagunto gigafactory were unwilling to continue the electrification process with less than 700 million public subsidies. In the summer, the Government announced that the Volkswagen electrification project will have only €167 million (95 million grants and 72 million loans). Administrator with password Fundable budget of 362 million euros, well below the multinational company’s expectations German. The German company was confident that the Government would approve the final aid in September, but final approval is being delayed as the multinational asks for more money. The company does not understand how a project that would mobilize 10,000 million euros chose to capture a maximum of 362 million euros.
The risk for the Valencian Community is that the multinational will eventually choose to move the giga factory to another European country.
The risk for the Valencian Community is: multinational finally chose to relocate gigafactory to another country European. The company plans to build six dual-battery gigafactories with a capacity of 40 GWh per year. The first is being built in the German town of Salzgitter, another is planned in Sweden, and the third is Sagunto. The other three are still awaiting awards.
The company insisted from day one that the construction of the massive factory depended on public aid. The company wanted to start work in the first quarter of 2023 for the Sagunt factory to start production in 2026. In any case, the Government is counting on the resolution of the disputes, despite the annoyances in the German group due to the delay in the concession. aid rate is high.