The Government grants aid of 90 million euros to the Sagunt gigafactory

The Government has granted aid of 90 million euros to the Valencian Community to "facilitate investments in its territory aimed at the construction of a battery factory with a high standard of environmental protection and energy efficiency, and a high degree of innovation".

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NewsEditor
28 December 2022 Wednesday 09:42
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The Government grants aid of 90 million euros to the Sagunt gigafactory

The Government has granted aid of 90 million euros to the Valencian Community to "facilitate investments in its territory aimed at the construction of a battery factory with a high standard of environmental protection and energy efficiency, and a high degree of innovation".

This is stated by the BOE today in the publication of the Royal-Decree Law approved yesterday in the Council of Ministers, where the importance of the automotive sector in the Valencian Community is detailed and it is valued that the SEAT-Volkswagen battery factory in the double green and digital transition.

The Executive argued that "it is necessary" to support the Valencian Community in this investment, since it values ​​that innovation within the automotive sector plays "an important role in the competitiveness of the sector" to maintain the competitiveness of the electric vehicle production ecosystem .

Likewise, the Government explains that the automotive sector represents around 6% of the active population of the Valencian Community and close to 5% of this employment is classified as "high Technological Intensity". It also values ​​that the Sagunt gigafactory is a "neuralgic point for the development of the sector due to its good communication with other automobile production centers, one of which is located in the Community itself", in reference to the Ford automobile plant in Almussafes.

In addition, he points out that "it is noteworthy" the strategic situation that facilitates trade with third countries.

The BOE establishes that the Valencian Community has a maximum period of five days to accept the granting of the subsidy from the notification of the resolution and that this direct subsidy is compatible with other subsidies, aid, income or resources for the same purpose. , which makes it possible to combine the aid with that already obtained by the gigafactory through the PERTE of the electric vehicle.

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