Spain Plans 3.7 Billion Euro Auto Sector Aid Package: Report
car&bike Team
1 min read
Jun 15, 2020, 09:44 PM
Key Highlights
- Spain plans a 3.7 billion euro aid package for its automobile sector
- Spain wants to promote investment and the purchase of vehicles, mainly EV
- The lockdown has battered car sales in Spain
Spain plans a 3.7 billion euro aid package for its automobile sector, hit hard by the coronavirus pandemic, to promote investment and the purchase of vehicles, specially electric models, Prime Minister Pedro Sanchez said on Sunday.
Sanchez said details of the plan, which will also include fiscal and research measures, would be announced on Monday for a sector that accounts for a tenth of Spain's national output and close to a fifth of its exports.
The lockdown, imposed to curb the spread of the new coronavirus, has battered car sales in Spain.
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