Hallucinate with the impact of electric mobility on the Spanish economy: 55,000 jobs per year

Did you know that When €1 is invested in electric mobility in Spain, €1.8 of GDP is generated? Or that, in accordance with the guidelines established by the National Integrated Energy and Climate Plan (PNIEC) 2021-2030, In Electrification and Networks alone, investments of almost 6,000 million euros are expected annually?

These are just two of the data revealed by the report. “Socioeconomic impact of electric mobility on the Spanish economy” prepared by the Business Association for the Development and Promotion of Electric Vehicles (AEDIVE), in which a representative sample of companies in the sector that generate more than €12,500 million annual turnover and They exceed 140,000 jobs in Spain.

The study takes the aforementioned PNIEC 2021-2030 as a starting point and asks what would happen to the Spanish economy if the investment planned in the Plan of 30,000 million between now and 2030 (in a strict sense: 6,000 million euros per year, so that if we take into account the ten years covered by the Plan it would be 60,000 million) will be executed as planned.

Well, their conclusions are surprising to say the least. The first and most striking is the one we announced at the beginning of the article: when €1 is invested in the electric mobility sector in Spain, €1.8 of GDP is generated.

But, also, 90% of that € invested generates a very significant carry-over effect in 22 branches of activity different: manufacturing industry, capital goods, distribution (wholesale trade), financial services, engineering and Information Technology (IT) companies, construction, etc.

Every year, andThe investment of 6,000 million euros planned in the PNI generates almost 11,000 M€ of GDP, the equivalent of 17.2% of industrial GDPand that could be linked to electric mobility.

Furthermore, this GDP allows create and/or maintain about 55,000 jobs annuallythe equivalent of almost 2% of industrial employment in Spain.

In short, if the investment forecasts for the development of the PNIEC are met, only Electrification and Networks will allow the creation of other ones between now and 2030. 275,000 jobs in total and generate more than 50,000 million euros of GDP.

These figures make AEDIVE reflect that “we are, in short, facing one of the most relevant industrial, technological and economic power opportunities in the country.”

The still photo of current electric mobility in Spain

In the report of AEDIVE It also analyzes how the electric mobility sector is currently in our country and does so based on the companies that have consulted for the study. According to their conclusions, almost 50% of the companies consulted generate the bulk of their annual business figures in electric mobility, and within this, 54% obtain that income through exports.

But, there is still some additional interesting conclusion: the companies interviewed create almost 142,000 jobs (the equivalent of 5% of industrial employment in Spain), of which more than 14,000 jobs They are exclusively in electric mobility.

In addition, they have invested more than €220 million in R&D in the last 3 years, of which almost €27M were allocated exclusively to electric mobility through 67 research and development projects.

The average of the companies interviewed invests 3.3% of its turnover in R&D, when in Spain the business sector invests 0.81% of GDP. That is to say, electric mobility It is a sector that, in proportion, is 4 times more intensive in business innovation.

Which makes them affirm, as they defend from AEDIVE, that “electric mobility is being one of the more active levers to boost Spain’s science and technology system and its productivitywith a strong investment commitment, but, above all, to through the collaboration between companies and knowledge centers.”

Furthermore, they assure that for 70% of the companies interviewed, in the next 3 years, their income in electric mobility will grow by more than 30% compared to today and between 10% and 20% for 15%. so that 85% of the companies consulted plan to increase their income from electric mobility by more than 10% in the next three years.

And finally, although 64% of companies consider that the degree of investment commitment of the Public Administration to electric mobility is sufficient, They also consider that there is a lot of room for improvement.

What can be done to boost mobility

The AEDIVE report also analyzes with the companies surveyed the areas that can be promoted to promote electric mobility in Spain and these are the conclusions:

80% consider that it is necessary to expand aid for investment in electric mobilityboth for companies and individuals and that it is essential to expedite the collection of aid and subsidies granted, a recurring complaint in the sector.

Also They consider investment in electrification for heavy transportation to be crucial, since they see it as crucial to promoting electric mobility and promoting R&D in electric mobility in public investment plans. All of this without forgetting the need to improve training regarding electrification.

And finally, a criticism and a regret. About the first, For the majority of the sector (64%), even in Spain there are not enough incentives for companies to invest in technologies and solutions for electric mobility. From AEDIVE they demand a reorientation towards those incentives that facilitate channeling private investments with high global impact.

Regarding the second, the study denounces that the electric mobility industry in Spain still finds it difficult to be profitable: 6 out of 10 companies are finding it difficult to achieve sufficient profitability to recover and make profitable the investments developed so far. The solution, “increase markets, increase training capabilities and establish itself as a industry and advanced services with high potential”, they conclude in AEDIVE.