AN AMBITIOUS government plan to boost Spain's car industry will involve a cash injection of €3.75 billion to allow individuals and companies to upgrade their vehicles where these are over a given age.
Additional funds will be granted for those who buy electrically-powered, rather than conventional petrol or diesel, cars, and extra financial help will be provided for households on the lowest incomes.
Part of the plan, as well as giving the motor industry in Spain a hefty dose of extra security at a time when it has been hit hard by the pandemic, is to work towards the country's becoming 'zero emissions' by the year 2050.
President Pedro Sánchez says this 'urgent environmental transition towards sustainable and connected mobility' will also help the industry 'adapt itself and become more competitive'.
“This is consistent with our international commitments concerning fighting, adapting to and mitigating climate change,” the socialist leader explains.
“We're aiming to make it easier to rejuvenate the cars on our roads so that they're more energy-efficient and more in line with our energy transition objectives that we've set ourselves.”
As well as grants for buying new cars, the funding set aside will help towards a 'tax reform' to 'increase competitiveness', towards 'supporting training and education in the industry', and 'research'.
“Cars of the future will be very different to those of the past,” Sánchez says.
Investing heavily in the motor industry is crucial to Spain's economy, argues the president, since it makes up around 10% of the GDP, a sizeable portion of the country's exports, and provides jobs directly and indirectly to around two million people.
“We want Spain to have better, more sustainable vehicles, cleaner towns and cities, quality employment, and a much more competitive motor industry,” Sánchez concludes.
