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Spain to kick-start shift towards Electric vehicles with €4.3B from the funds received by EU
Spain announced its electric vehicle transformation as most countries are pushing towards zero carbon emission goals. Despite slow uptake in the industry, the country is adding this as a part of its major national spending program. The program is financed by European Union Recovery Funds.
Image credits- Forecourttech
Spain’s prime minister, Pedro Sanchez announced that the government plan would include giving grants to companies to build battery plants, whole production chains and boost EV manufacturing. He added, “It is important for Spain to react and to anticipate this transformation in Europe’s automotive sector”. The government estimates that Spain’s private sector could contribute 19.7 billion euros in the coming three years.
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SPAIN’s Ministry of Transport, Mobility and Urban Affairs (Mitma) has announced plans to spend €1.5bn through the European Union’s Recovery, Transformation and Resilience Plan to improve freight movements in the country, with a major focus on shifting freight from road to rail.
The improvements will contribute to Spain’s Freight 30 Initiative, which aims to increase rail’s market share from 4% of net tonne-km to 10% by 2030.
“It is an ambitious goal, but I think it is realistic,” says Spain’s general secretary of infrastructure, Mr Sergio Vázquez Torrón. “There have been attempts in the past, but now is the time to make it happen. We have the opportunity, the capacity, and the obligation to overcome this situation. It is now or never.”