Spain plans €700 million investment to boost electric vehicle adoption

Spain will invest 700 million euros to support electric vehicle adoption and reinforce its automotive industry, Prime Minister Pedro Sanchez announced on Wednesday. Of the total, 400 million euros will be allocated next year to subsidise EV purchases, while 300 million euros will be used to expand charging infrastructure in areas with limited coverage.The government will streamline licensing for new charging points and has launched an online platform to help users locate existing stations. Sanchez said the measures are aimed at making electric cars more competitive and affordable for households. The announcement comes as the European Union targets an end to sales of new combustion-engine vehicles by 2035, a goal that has faced delays due to gaps in charging networks and concerns from parts of the auto industry. Manufacturers have called for greater flexibility, including continued use of plug-in hybrids and efficient combustion engines.Spain, Europe’s second-largest car producer after Germany, already has more than 40,000 public charging stations and is working towards a full shift to electric mobility by 2050, Sanchez said. The automotive sector contributes about 10 per cent of the country’s GDP and supports nearly two million jobs, according to government data.