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Future: Fast Forward register the project with the Perte VEC with the ambition of turning Spain into an electric vehicle hub in Europe

The partners of Future: Fast Forward, led by the Volkswagen Group and SEAT SA, have registered the project with PERTE for the Electric and Connected Vehicle (VEC) with the ambition of turning Spain into an electric vehicle hub in Europe. Formed by a total of 62 national and international companies and benchmarks from different sectors, it is the largest business group in the history of the automotive industry in Spain.

This is a country project that brings together companies from 11 autonomous communities (Andalusia, Aragon, Cantabria, Castilla y León, Catalonia, the Community of Madrid, the Valencian Community, Extremadura, Galicia, Navarra and the Basque Country), 61% of the which are SMEs, and between them they cover the entire electric vehicle value chain.

The project presented, which has had the collaboration of PwC, is made up of four main axes. The tractor project, led by SEAT SA and the Volkswagen Group, aims to electrify the Martorell and Pamplona factories. The second pillar of the business group’s project is the creation of the entire battery ecosystem for electric cars in Spain, which encompasses everything from lithium extraction in mines to battery assembly, including a battery gigafactory in Sagunto (Valencia).

The third axis contemplates the location in Spain of essential components for electric vehicles and the fourth includes areas related to training, digitization and the circular economy. As a whole, the project covers the nine blocks of the PERTE of the Electric and Connected Vehicle.

First Assembly of Future Partners: Fast Forward

Last Friday, the first general assembly of the partners of Future: Fast Forward was held in Madrid, with the participation of representatives of all the companies that are part of the project. Marc Riera, Director of Purchasing Strategy and New Projects at SEAT SA, has been appointed Chairman of the General Assembly of the Future: Fast Forward group, a representative body that will meet at least twice a year.

The partners of Future: Fast Forward have also formed a delegate committee, which will meet periodically to ensure compliance with PERTE. This commission will also be chaired by Marc Riera.

In addition, three governance committees have been created associated with this assembly. The Audit and Supervision Committee will be chaired by Blanca Montero, economist, independent member of the ICO General Council and member of the Banco Sabadell Foundation Board of Trustees. The Risk and Compliance Committee will be chaired by Ignacio González, lawyer, external advisor to the Board of Directors of Grupo Ferrer International SA & UNIRPROEDUCA. There will also be a Financial Committee, chaired by Ferran Rodríguez, an external independent, who currently chairs the Institute of Certified Public Accountants of Spain. Each of these committees are independent and will report to the general assembly.

The group will also have a Project Management Office (PMO) that will be in charge of exhaustive monitoring of the evolution of the project. It will control that the established deadlines and the budget items of the different investments are met.

Project partners Future: Fast Forward

Altech, Asai Industrial, AZTERLAN, Balidea, BeePlanet Factory, Bosch, Brose, CARTO, CELSA Group, CETIM, CIDETEC, CENIM – CSIC, CERLER Global Electronics, CYP Core, Delta Vigo, ENSO, Fenie Energía, FORMINSA, GCR Group, Gestamp , Glavista, Gonvarri, Grupo Sesé, Grupo Simoldes, Iberdrola, Intrustial, IMS Technology, Ingedetec, University Research Institute (CIRCE) Zaragoza University, isEazy, ISEND,, Kautenik, Kivnon, Lazpiur, Leartiker, Libelium, Lithium Iberia, Malena Engineering, Mindcaps, Mol-Matric, Motorland Aragón, NTDD, NUTAI, Órbita Ingeniería, Pomceg Electronics, POWER Innotech, Power HoldCo Spain, SEAT CODE, SEAT MÓ, SEAT SA, Silence, Grupo SPR, Sumitomo Electric Bordnetze, Técnicas Reunidas, TECOI, Valeo, Vega Chargers, Vicomtech, Volkswagen Navarra, WIP and Zylk.

Collaborators of the project Future: Fast Forward

CaixaBank, Eurecat, FICOSA, ITAINNOVA and Telefónica Spain.

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