EVWire brief: €1 billion of the PERTE subsidy’s fourth round — PERTE VEC IV — are granted as loans, and €250M in grants to further create and support the EV supply and production chain in Spain.
PERTE VEC IV will promote the creation of new industrial establishments throughout the country, the expansion of production capacity in existing plants, and the conversion of lines to manufacture innovative products that were not previously produced.
Since being introduced in 2022, the Electric and Connected Vehicle PERTE has launched three calls so far, mobilizing nearly €2.5 billion, benefiting some 300 companies representing the entire automotive value chain. The program will be managed by by the State Society for Industrial Promotion and Business Development (SEPIDES), which will launch the call for proposals for the battery section of PERTE VEC IV, which will later be followed by a second call for proposals for the value chain.
We want to exhaust all funding and continue driving the country's industrial transformation. We should not only be to adapt to changes, but to anticipate them. We want Spain to be talked about, not only as a major vehicle producer, but as the place where the world's most advanced mobility solutions are born.”
The press release writes that: “Last April, passenger car sales grew by 7.1%, with nearly 100,000 units sold. In the first four months of the year, registrations increased by 12.2% compared to the same period in 2024, with significant growth in electrified vehicles, which grew by 80% compared to the previous year.”
For some context from our own EVWire research — per our EV Sales Tracker — for the full year of 2024, there were 57,374 EVs sold in 2024, growing +11.2% YoY to a 5.64% EV market share. This rather important, 5th-largest auto market in Europe, grew a little this year after a 69.1% sprint in 2023, going from 5.44%→5.64% in EV market share.
Source: Spain’s Ministerio de Industria Y Turismo
DIG DEEPER: See how Spain stacks up to the rest of the world in EV sales through our EV Sales Tracker (currently updated for full 2024, with quarterly and monthly views coming soon). Or see our full overview of 2024 in graphs here.
