Spain’s government has announced a fourth round of funding under its Strategic Project for Economic Recovery and Transformation (PERTE) programme for eMobility, allocating €1.25 billion to support electric vehicle (EV) and battery manufacturing initiatives.
Unlike previous rounds, the 2024 funding structure will primarily consist of loans totaling €1 billion, with the remaining €250 million distributed as direct grants. The programme will be managed for the first time by the State Corporation for Industrial Promotion and Enterprise Development (Sepides), Spain’s Ministry of Industry and Tourism said in a statement.
As in prior phases, funding will be distributed across two main categories: projects linked to the broader electric vehicle value chain and those focused specifically on battery production. A call for proposals for battery-related projects is expected in the coming weeks, to be followed by a separate call for value chain proposals.
“Companies can begin to prepare their applications,” said Minister of Industry and Tourism Jordi Hereu. “We want to use up all the funds and continue to drive the country’s industrial transformation. Spanish companies must not only adapt to changes, but anticipate them.”
First introduced in 2022, PERTE has provided nearly €2.5 billion to around 300 companies operating across the automotive sector. Recipients in earlier rounds have included Seat and Volkswagen subsidiaries PowerCo and Stellantis, which used the funds to support EV and battery factory construction projects approved by the European Commission.
The government also highlighted growing EV market momentum as an indicator of the programme’s impact. In April, passenger car sales in Spain rose by 7.1% year-on-year, with electrified vehicle sales increasing by 80% compared to the previous year. Over the first four months of 2025, overall vehicle registrations rose by 12.2%, the ministry said.