Spain Deploys $16 Billion of EU Funds for Electric Transport
- Prime Minister Sanchez details Spain’s plan for EU funds use
- Program includes 20 major investments over three years
An autonomous electric bus undergoes testing in Malaga, Spain, in February.
Photographer: Jorge Guerrero/AFP/Getty Images
Spain plans to invest 13.2 billion euros ($15.7 billion) to boost electric vehicle use, one of a raft of measures as the government prepares to deploy European Union pandemic recovery funds to modernize the economy, Prime Minister Pedro Sanchez said.
Electrifying transportation is one of 20 flagship investments that Spain plans to make over the next three years, spending part of its portion of the EU’s recovery fund, Sanchez said during a press conference on Tuesday in Madrid. Other programs include 6.8 billion euros to be spent on improving the energy efficiency of buildings and 4.3 billion euros for modernizing the public administration, he said.