On Thursday 9 December, the European Commission approved €3 billion in Spanish aid to support research, development and innovation, as well as environmental protection and energy efficiency measures for companies in the electric and connected vehicle value chain.
This measure, which will help Spain accelerate the transition to a more sustainable and connected mobility, without unduly distorting competition, will be partly funded by the Recovery and Resilience Facility, following the adoption of the Spanish Recovery and Resilience plan.
The Spanish State aid scheme will run until the end of 2023 and is open to consortia of interested companies, both in Spain and abroad. Each consortium will include companies active in a wide range of sectors related to electric and connected vehicles, and at least 40% of the partners will be small and medium-sized enterprises (SMEs).
Grants will be awarded following a competitive selection process and will take the form of direct grants and soft senior loans.
Link to the Spanish recovery plan: https://bit.ly/3oD0OgI (Original version in French by Lionel Changeur)