Ford renounces the financing of the PERTE of the electric vehicle – La Vanguardia

Ford will not use the financing of the PERTE of the electric vehicle, as Digital Economy advanced this Wednesday. According to the company, after updating its global production cycle, its forecasts for Europe introduce a delay in its production plans for Spain and that will mean that they cannot take advantage of the PERTE financing program. In the provisional resolution of the first call for the PERTE of the electric vehicle published by the Government on August 1, Ford had a budgeted aid of 106,335,266 euros for the so-called Strategic Tractor Project for the manufacture of the vehicle of the future, electric and connected, in Ford Spain and in all the companies that make up its industrial chain. Also read Dolors Álvarez PERTEs are projects of a strategic nature and in the case of the electric vehicle, their central axis is the creation of the necessary ecosystem for the development and manufacture of electric and connected vehicles by promoting the automobile industry to respond to the new sustainable and connected mobility. But in addition, they carry a temporary execution requirement. From the company they assure that the commitment to the Valencia plant is maintained, since Ford’s operations in Spain continue to be a fundamental part of the strategy for Europe. When on June 22 the car company announced that it was choosing Almussafes for the production of electric vehicles over Saarlouis (Germany), it estimated that it expected to sell 600,000 electric vehicles per year by 2026. Read also Raquel Andrés Durà The American multinational assures that it hopes to work in collaboration with the Government of Spain and the Generalitat Valenciana to seek additional financing opportunities, as it progresses towards a range of fully electric passenger vehicles by 2030. For its part, sources from the Presidency of the Generalitat Valenciana recall that Ford trusts in Valencia beyond PERTE and that the news is only a rescheduling of investments that makes it impossible to access PERTE, not a change of plans. New challenges Ford looks forward to working in partnership with the Government of Spain and the Generalitat Valenciana to pursue additional funding opportunities Ford’s plans for a fully electric future in Europe support the global goal of more than 2 million annual electric vehicle production by 2026 a company adjusted EBIT margin of 10% by 2026. Effects How will it affect the automotive sector? Given Ford’s resignation to the financing of PERTE, it is inevitable to look at the Valencian automotive sector, which depends largely on the automobile industry. In the case of the Ford Tractor Project, there are nearly forty participating companies, and only 3 or 4 belong to the Valencian automotive cluster, AVIA.