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

The Future: Fast Forward group has received the final approval decision from the Ministry of Industry, Commerce and Tourism regarding its proposal for the development of Strategic Projects for the Recovery and Economic Transformation for Vehicles. Electric (PERTE VEC).

The decision comes after the ministry has reviewed all the documentation sent by the group on January 13 for the implementation of the project. Future: Fast Forward partners have correctly submitted the required guarantees.

In this way, the administrative procedures foreseen to receive the funds of the European Union Recovery, Transformation and Resilience Plan granted to the partners of Future: Fast Forward, which reach 357 million euros, are completed.

A historical consortium

Following the grants awarded, Future: Fast Forward will develop 86 projects with 52 of the group's partners in different autonomous communities: Andalusia, Aragon, Cantabria, Castilla y León, Catalonia, the Community of Madrid, the Valencian Community, Extremadura, Galicia, Navarra, and Basque Country.

The partners of Future: Fast Forward are going to contribute to PERTE VEC with the start-up of the projects, divided into nine blocks according to theme and plan to mobilize an investment of 10,000 million euros; 7,000 million euros from the Volkswagen Group, SEAT S.A. and PowerHoldco and 3,000 from the rest of the partners. On the one hand, in the mandatory blocks - those areas that are considered essential to achieve the objective of PERTE VEC - projects will be addressed: (i) manufacturing of original equipment and assembly, (ii) manufacturing of batteries and (iii) manufacturing of other components. . The transversal blocks, which are also essential to achieve the goal of PERTE VEC, but whose application transcends a specific territory of action, include (iv) training; (v) digitization and (vi) circular economy. Finally, the optional blocks complement the development of the PERTE VEC and address (vii and viii) the manufacture of VEC components and connectivity and (ix) the manufacture of charging systems.

On February 2, the group's presentation ceremony will be held, where all the details of the different projects will be known.

Future: Fast Forward is the largest business alliance in the history of the automotive sector in Spain. His geographical diversification and his complete knowledge of the entire automotive value chain give him a comprehensive vision of the steps necessary to develop the sustainable electrification of mobility in Spain. This is an ambitious and national project that can transform Spain into a leading European hub in electric mobility, in addition to having a very positive impact at the socioeconomic level due to its capillarity throughout the value chain of the automotive sector.

Marc Riera, president of Future: Fast Forward, has pointed out: "The resolution of PERTE VEC is one more step in our plan to turn the Spanish automotive industry into a European benchmark in terms of sustainable electrification. At Future: Fast Forward we work to transform the mobility industry and thus get closer to a more sustainable future”.

Future Cluster Partners: Fast Forward

Altech, Asai Industrial, AZTERLAN, Balidea, BeePlanet, Bosch, Brose, CARTO, CELSA Group, CETIM, CIDETEC, CSIC, CERLER Global Electronics, CYP, Delta Vigo, ENSO INNOVATION, Fenie Energía, FORMINSA, GCR Group, Gestamp, Glavista, Gonvarri, Sesé, Simoldes, Iberdrola, Intrustial, ILJIN, Ingedetec, Universidad 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.

About Future: Fast Forward

Future: Fast Forward is the largest business group in the history of the automotive industry in Spain. It is made up of 62 companies from different sectors and located in 11 autonomous communities. The member companies in the group have experience, technology, knowledge, innovation, human teams and business skills that add value to build the necessary ecosystem to make Spain the reference hub for electrified and sustainable mobility at an international level.

Funded by the European Union-Next Generation and by the Ministry of Industry, Trade and Tourism.