The Prime Minister of Spain, Pedro Sánchez, and Volkswagen Group CEO Oliver Blume met in Madrid on February 7 to discuss a wide-ranging investment plan that will help transform Spain into an industrial hub for electric mobility.

During the meeting, Oliver Blume and SEAT president Wayne Griffiths discussed with the Prime Minister and the Minister for Industry, Trade and Tourism Reyes Maroto details of the 10-billion-euro investment program, called Future: Fast Forward, that Volkswagen together with its battery business PowerCo, Spanish subsidiary SEAT S.A. and its 49 partners announced last year.

As part of the plan, supported by the Recovery, Transformation and Resilience Plan, through the Electric and Connected Vehicle PERTE, Volkswagen will electrify its car factories in Martorell and Pamplona and build a battery gigafactory in Sagunto.

The CEO of the Volkswagen Group welcomed the commitment of the central government and of Catalonia, the Valencian Community and Navarre to the automotive industry. Blume and Sánchez also discussed the need to work together on the electric vehicle implementation and the development of the charging infrastructure.

“Together with the Spanish government, we are ready to transform Spain into a European e-mobility hub. The investment plan will create sustainable growth in Spain. According to our estimates, it will contribute reduce CO₂ emissions by 2 million tons per year and boost the country’s economy by 21 billion euros. In addition, the plan will help to secure and create more than 145,000 jobs with a positive impact of over 2.4 billion euros on taxes and contributions to Spain’s social security system,” Oliver Blume said.

In order to establish a more competitive European industrial policy, the CEO of the Volkswagen Group also asked for the Spanish government's support for a balanced EU7 legislation as well as for Europe's strategic autonomy in terms of energy and the supply of raw materials and components.