Spain advances the Perte VEC II initiative to boost electric vehicle manufacturing and charging infrastructure
The Ministry of Industry, Trade and Tourism announced the publication of the second call for the Strategic Project for the Upgrade and Economic Transformation of the Electric and Connected Vehicle, known as Perte VEC II, focusing on the electric vehicle value chain. The government described this as a major step forward in advancing the sector through targeted funding and clear timelines.
The announcement was made at a press conference led by the minister, who noted that the Council of Ministers had anticipated this move. The window for submitting projects will open on July 15, creating a structured opportunity for participants to present innovative ideas that align with the program’s objectives. The process is designed to run in parallel streams, with all components proceeding in concert where applicable.
During the briefing, the minister outlined the financial framework for Block A of Perte VEC II. This block will receive 850 million euros, allocated as 550 million euros in the form of grants and 287 million euros as concessional loans. The objective is to accelerate the scaling of battery technologies and related supply chains, ensuring support is available for projects that strengthen the competitiveness of the battery segment within the broader electric vehicle ecosystem.
The European Commission has issued a new exemption regulation by category that excludes Block B from Perte VEC II, directing resources toward projects that promote electric vehicle adoption and associated value chains. Once the regulation is published, the government plans to initiate the submission and assessment processes with the European Commission’s authorization. The minister confirmed that both the bid and the final approval for Block B of VEC II will be announced in due course, contingent on regulatory alignment.
In evaluating the program, the minister emphasized that Perte VEC II represents a substantial push for electric vehicles and their broader diffusion. He highlighted ongoing collaboration with the Ministry of Transition to advance charging infrastructure and stressed that all measures were coordinated with industry stakeholders, underscoring the central role of the sector in the country’s economy and the importance of maintaining a robust industrial base.
The minister also acknowledged the need to close the gap with other EU member states. He noted that an important item has been added to the annex of European funds to support the third Perte VEC call, signaling a longer-term commitment to the program. This addition lays the groundwork for continued investment in the electric vehicle ecosystem and related technologies.
Looking ahead, the plan forecasts approximately 1.450 billion euros for Perte VEC III, with 1.200 million euros designated for loans and portions of the remaining funds to be disbursed as concessions. An additional 250 million euros will be granted as direct support, as outlined by the minister in recent statements. In his remarks, he framed the sequence of VEC II and VEC III as a combined program with a potential total near 3.000 million euros, depending on ongoing discussions and the evolving needs of the market.
The minister underscored the practical impact of these allocations: intensified charging-point deployment, meaningful incentives, and reductions that collectively aim to boost the penetration of electric vehicles. He expressed confidence that the coordinated investments would help the country catch up with leading EU peers and position it as a competitive hub for electric mobility across Europe [Attribution: EU regulatory and national funding plans].