The electromobility hub obtains bank guarantees for 48 million

By: MRT Desk

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The electromobility hub obtains bank guarantees for 48 million

The electromobility hub that will assume the reindustrialization of Nissan (TYO:7201) has obtained bank guarantees for the PERTE of the electric vehicle worth about 48 million euros, below the 80 initially planned, although it assures that they are sufficient to start the tractor projects of the plan.

This is the amount he has been able to gather after a negotiation against the clock that ended this past midnight, when the deadline given by the Ministry of Industry to present the necessary guarantees to unlock the aid awarded by the PERTE expired, according to sources of the ‘hub’ (operations center), led by QEV Technologies and B-Tech.

The consortium of companies achieved an allocation of 107.8 million from PERTE, the third largest, and to unlock this aid it needed to present guarantees for 90% of that amount, although from the beginning it set itself the objective of reaching 80 million.

However, negotiations with the banks have been difficult and, finally, it has had to settle for 48 million.

“These guarantees guarantee the development and implementation of the hub’s tractor projects, focused on the production of electric vehicles,” the same sources point out.

The promoters of the ‘hub’ are considering reducing their initial investment to adapt it to the guarantees obtained, waiting to be eligible for new aid in the second PERTE of the electric vehicle, scheduled for 2023.

According to sources in the sector, the initial investment of the consortium to reindustrialize the old Nissan plant in Barcelona’s Zona Franca would be 300 million euros to be made over a period of three years.

The banks that have endorsed the hub are Andbank, Caixabank (BME:CABK), Avalis, Abanca and Banco Sabadell (BME:KNOW).

The Institut Català de Finances (ICF) had been predisposed to guarantee 40 million, but the Ministry of Industry refused to accept the guarantees of this body, which has no bank file, considering that it does not meet the conditions set in the PERTE. On the other hand, he did accept the formula that these 40 million of the ICF serve as a counter-guarantee.

The hub project aims to create some 7,000 jobs, of which 1,000 direct, when it begins its activity of manufacturing electric vehicles.

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