Electrifying news: Cash handouts of up to €9,000 to buy an electric vehicle in Spain

BUYERS of electric vehicles (EVs) in Spain can claim subsidies of up to €9,000.

The Spanish government has approved an €800 million fund up until the end of 2023, which is available now, revealed the Energy Ministry.

Private buyers will be able to claim up to €7,000, with companies buying fleets to use as taxis eligible for more. Vans can attract subsidies of up to €9,000.

These incentives follow a government pledge to promote battery production in Spain and push the manufacture of electric vehicles in the country.

Volkswagen Group’s SEAT subsidiary plans to team up with power company Iberdrola to build Spain’s first battery factory for EVs

Reyes Maroto, Spain’s Minister of Industry, Trade and Tourism, said that the government plans to access EU funds for a public-private consortium.

“The project will allow the development of … the necessary infrastructure, installations, and mechanisms to autonomously and competitively manufacture a connected electric vehicle,” Maroto said.

Volkswagen has previously announced its intention to build six EV battery plants across Europe, with three earmarked for the Spain/Portugal/southern France area.

Previously Korean electronics giant LG had announced it was considering a proposal to convert Nissan’s doomed car assembly plant in Barcelona – slated for closure in December 2021 – into a battery factory.

The Spanish government had offered direct aid of €600 million towards the €1.6 billion cost of the proposed takeover.

Spain is the second largest electric vehicle manufacturing country in Europe after Germany. If given the go ahead, the plant would be LG’s second battery facility in Europe. Its first is in Poland.

It was planned that it would supply batteries to SEAT, which has the largest car factory in Spain in Martorell. It is not known how the proposed Volkswagen Group plant would affect the LG plans.

SEAT recently announced that it intends to invest €5 billion by 2025 in R&D for the development of vehicles, especially electric ones.

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