The Spanish government will allocate 1.3 billion euros to support the electric car industry, aiming to achieve a share of 95% electric vehicles by 2035.
Cristina Petrache
International
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Spanish Prime Minister Pedro Sanchez announced an ambitious plan for the automotive industry, which includes an investment of nearly 1.3 billion euros in 2024 to support the electric vehicle market. The goal is that by 2035, 95% of the vehicles produced in Spain will be electric. In the first 10 months of this year, fully electric and plug-in hybrid vehicles accounted for approximately 10% of the country's automotive production. The plan includes direct subsidies of 400 million euros for consumers and 580 million euros for industrial investments, as well as 300 million euros for the installation of charging points. The Spanish government also aims to maintain jobs in the automotive sector and counter the rapid expansion of Chinese electric vehicle brands, ensuring that Spain remains an important player in the European market. The roadmap anticipates that sales of electrified vehicles will reach 100% by 2035.
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