31 January, 2023

The Future: Fast Forward consortium receives the final resolution from the Ministry of Industry for its PERTE VEC project.

  • 52 of the consortium's partners will develop 86 projects that will contribute to transforming the automotive sector, promoting its electrification for sustainable mobility.
  • It is anticipated that 90% of the granted subsidies will be transferred to the companies integrated into the Future: Fast Forward consortium in the coming weeks.

Madrid, January 26, 2023. The Future: Fast Forward consortium has received the final approval from the Ministry of Industry, Commerce, and Tourism for its proposal for the Strategic Projects for Economic Recovery and Transformation for the Electric Vehicle (PERTE VEC).

The decision came after the ministry reviewed all the documentation submitted by the consortium on January 13 for the project's implementation. The partners of Future: Fast Forward have correctly presented the required guarantees.

This concludes the administrative procedures planned to receive the funds from the European Union's Recovery, Transformation, and Resilience Plan awarded to the partners of Future: Fast Forward, amounting to 357 million euros.

A Historic Consortium

Following the grants awarded, Future: Fast Forward will develop 86 projects with 52 of the consortium's partners across various autonomous communities: Andalusia, Aragon, Castile and León, Catalonia, Community of Madrid, Valencian Community, Galicia, Navarre, and the Basque Country.

The partners of Future: Fast Forward will contribute to the PERTE VEC with the implementation of projects, divided by theme into nine blocks, and expect to mobilize an investment of 10 billion euros; 7 billion euros from the Volkswagen Group, SEAT S.A., and PowerHoldco, and 3 billion from the rest of the partners. In the mandatory blocks—areas considered fundamental to achieving the PERTE VEC's goal—projects will address (i) original equipment manufacturing and assembly, (ii) battery manufacturing, and (iii) manufacturing of other components. The cross-cutting blocks, which are also essential to achieving the PERTE VEC's goal but whose application transcends a specific area of action, include (iv) training; (v) digitization, and (vi) circular economy. Lastly, the optional blocks complement the development of the PERTE VEC and address (vii and viii) the manufacturing of VEC components and connectivity and (ix) the manufacturing of charging systems.

An event to present the consortium will be held on February 2, where all details of the various projects will be revealed.

Future: Fast Forward is the largest business alliance in the history of the automotive industry in Spain. Its geographical diversification and comprehensive knowledge of the entire automotive value chain give it an integrated vision of the necessary steps to develop sustainable electrification of mobility in Spain. It is an ambitious national project that could transform Spain into a leading European hub for electric mobility, in addition to having a very positive socio-economic impact throughout the automotive sector's value chain.

Marc Riera, president of Future: Fast Forward, stated: "The resolution of the PERTE VEC is a further step in our plan to turn Spanish automotive into a European benchmark in terms of sustainable electrification. At Future: Fast Forward, we work to transform the mobility industry and thus move towards a more sustainable future."

Partners of the Future: Fast Forward consortium

COMPANIES: Altech, Asai Industrial, AZTERLAN, Balidea, BeePlanet, Bosch, Brose, CARTO, CELSA Group, CETIM, CIDETEC, CSIC, CERLER Global Electronics, CYP, Delta Vigo, ENSO INNOVATION, Feníe Energía, FORMINSA, GCR Group, Gestamp, Glavista, Gonvarri, Sesé, Simoldes, Iberdrola, Intrustial, ILJIN, Ingedetec, University of Zaragoza, isEazy, ISEND, Kapture, Kautenik, Kivnon, Lazpiur, Leartiker, Libelium, Lithium Iberia, Malena Engineering, Mindcaps, Mol-Matric, Motorland Aragón, NTDD, NUTAI, Órbita Ingeniería, Pomceg Electronics, POWER Innotech, PowerCo, SEAT CODE, SEAT MÓ, SEAT S.A., Silence, Grupo SPR, Sumitomo Electric Bordnetze SE, Técnicas Reunidas, TECOI, Valeo, VEGA Chargers, Vicomtech, Volkswagen Navarra, WIP, and Zylk.

Collaborators of the Future: Fast Forward consortium

CaixaBank, Eurecat, FICOSA, ITAINNOVA, and Telefónica España.

Future: Fast Forward is the largest business consortium in the history of the automotive industry in Spain. Following the final resolution from the Ministry of Industry for the PERTE VEC project, 86 projects are being developed in 11 autonomous communities (Catalonia, Community of Madrid, Navarre, Basque Country, Cantabria, Aragon, Castile and León, Castilla-La Mancha, Andalusia, Galicia, and Valencian Community) by 52 partners, of which 59.6% are SMEs. The companies within the consortium possess experience, technology, knowledge, innovation, human teams, and business capabilities that add value to build the necessary ecosystem to make Spain the reference hub for electrified and sustainable mobility at an international level.

Participation of Técnicas Reunidas in the PERTE VEC Project

Técnicas Reunidas is participating in the RELOAD project, which aims to contribute efficiently and safely to the supply of high-value metals in the industrial value chain of the Electric and Connected Vehicle (VEC), reducing dependence on imports and promoting a sustainable, circular industrial model with a smaller environmental footprint. Técnicas Reunidas will research innovative technologies for the recovery of various metals such as lithium, cobalt, nickel, manganese, and graphite from a black mass stream obtained from VEC batteries, rare earths present in the magnets of electric motors, and copper, tin, silver, niobium, and gold from a stream of high-added-value electronic component waste of the VEC, obtained from the power control unit. These three streams will be provided by SEAT, and the metals will be recovered in the form of industrial precursors for reuse in the VEC industry.

 Future: Fast Forward website

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