The Ministry of Industry, Trade and Tourism increased its aid to the giant factory by only 2.5 million. Stellantis Promoting in Figueruelas (Zaragoza). The project, called Antares, initially raised €53.4 million from the Perte VEC II (Electric and Connected Vehicle) battery call; According to the final decision announced this Friday, this amount increased by 4.6% to 55.9 million euros. Donated funds fall far short of the company’s claims. As a result, the commitment to this major investment remains, but it needs more public support to become a reality. The Spanish Government and the company are currently exploring other avenues for financing.
automotive group Aims to approach 200 million eurosPublic incentives for an investment that will initially exceed $1,000 million. In this way he obtained only a quarter of the quantity demanded; this is the maximum amount to which it is entitled under European regulations on subsidies in this autonomous community. ““Didn’t meet our expectations” They clearly recognize the group led by Carlos Tavares. Even so, they’re not throwing in the towel on the bet they made on youA strategic and important project for the future of the automotive industry Aragon.
It’s very poor compared to the support received for other similar projects. Chinese imagination he received almost six times more votes in the same Perte call. 300 million (200 subsidies, 100 loans). The amount V gets is also noticeably more.Olkswagen for the Sagunto (Valencia) project, which generated 195 million income from the ministry (100 from the first act and 95 from another game)
Despite everything, Stellantis isn’t breaking the deck or throwing in the towel In its commitment to a strategic and important project for the future of the automobile industry in Aragon. This is how the company’s statements published this Friday are interpreted, but be careful, they also give the following warning:The success of the initiative cannot be prevented due to the support of the public. They think that “it is necessary to continue to work with the administration to obtain the necessary support to make this project economically viable and implemented.”
Stellantis also emphasizes the following in its statement: Spain’s bet “as a recipient country of planned investments for future industrial projects” “For this, the support of public institutions as well as the high competitiveness, quality and social environment of our facilities are essential.”
The company took A total of 66.3 million units of PERTE VEC II were allocated to four projects for its three factories in spain. Figueruelas gets most of it. To the 55.9 million from the Gigafactory, another 3.3 million were added to expand the battery workshop. plants vigo 6.75 million were allocated and Madrid354,100 euros, both for assembly lines of this equipment.
Financing options
They provide the following from the Ministry of Industry: We work closely with Stellantis To promote ongoing projects in Spain. The government informed the company about the available financing instruments to achieve its desired maximum level.
“Investments like Stelantis’ “They represent a priority for this Government and the regions selected to implement their projects.” said Industry Minister Héctor Gómez. The Ministry and Stellantis agreed to hold meetings to determine the future line of action between the Spanish Government and the auto group.
Stellantis considers it necessary to continue working with national and regional governments, in this case the Government of Aragon, to obtain the necessary support to make the Antares project a reality. In this sense it is We are working on a road map with the Spanish Government Beyond VEC II and through other existing mechanisms and lines, PERTE “makes it possible to create the necessary conditions to achieve the required level of assistance.”
Optimism in the Aragonese Government
Another positive sign for the future of the Figueruelas giant factory is that the Aragonese Government does not blame the ministry, despite the limited support it gives to the project. Regional Chief Executive Officer, Jorge Azconchose to be careful when evaluating aid He expressed his hope that the battery factory will be established in Aragon. In this sense, the company maintained that it was optimistic about the “work” carried out between the Spanish Government and the DGA in recent weeks.
“I’m not ready to throw in the towel and I want to be optimistic. The minister said it very clearly: the effort will be 220%. And I want to believe him because “It is in the interest of the autonomous community that there is coordination and cooperation between the three actors.” Azcón said.
Perte VEC’s third call
The industry is already working Perte VEC’s third call, To be released in early 2024 More than 1,200 million euros. As in the previous one, communication with the companies concerned will be continuous, with the aim of dispelling doubts about the delivery process of the projects, the European framework and their requirements regarding deadlines.
Additionally, the ministry has begun reviewing part B, the second line of Perte VEC II. introducing new electric vehicle models and giving them a second life alongside battery and fuel cell prototypes. The first provisional decisions, including Stellantis, will begin to be published in December.
“Spain is extremely competitive at the energy levelWith a wide distribution of renewable energies, which makes the price of electricity very attractive for international companies. We believe that thanks to contact and intensive public-private cooperation, Perte VEC III will be as successful as the second one,” assured Gómez.