Friday, 12 May 2023
The European Commission has approved giving Spain 837 million euros to bolster the manufacture of electric car batteries.
The aid scheme aims to help transport companies reduce emissions by boosting the production of electric cars and batteries. These companies will be able to receive grants and direct loans of between 100 and 300 million euros for investments in batteries.
Brussels considers the aid to be in line with the Temporary Crisis and Transition Framework, which was put in place during the pandemic and has been extended due to the consequences of the war in Ukraine.
It notes that electric cars will enable "the transition to a zero-emission economy" and that the Spanish scheme is "necessary, appropriate and proportionate" to achieve this.
Spanish minister of industry, trade and tourism Héctor Gómez said that the approval of the aid is "excellent news" that reaffirms that "Spain's commitment to sustainability and the electrification of the automotive industry is clear and firm".
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