He Socio-economic impact study of electric mobility in Spainthat the Association of Companies for the Development and Promotion of Electric Mobility, AEDIVE, has mandated with Semsun Finance, specifies that “Each euro invested in the energy sector intended for electric mobility in Spain generates 1.8 euros of GDP“.
The report prepared by Semsun Finances, founded by the economist, writer and businessman Javier García, recognized expert in business strategy and finance, with more than 300 operations in recent years.
The document also states that “the electrification and networks for the development of industry and electric mobility services in Spain will create more than 500,000 jobs and generate more than 100,000 million euros in GDP.
Investment horizon for 2030
The AEDIVE report analyzed the economic traction of the electric vehicle value chain, outside the automotive sector, “of which the data on employment and GDP in Spain are well known, and which affects the field of energy efficiencyfor which there were no precise figures until now.
To do this, we started from the reference framework for investments by 2030, in accordance with the guidelines and estimates established by the National Integrated Energy and Climate Plan (PNIEC) 2021-2030, where only in Electrification and Networks (a very relevant part of the investment in electric mobility), Investments of nearly 6 billion euros per year are planned.
It was also evaluated driving force of this value chain and its drag effect, studying the critical parameters of the main electric mobility companies in Spain within AEDIVE: industry, engineering, mobility services, construction, electrical material and equipment and, of course, energy production.
Main findings of the study
Another conclusion from the study AEDIVE is that “90% of each euro invested yields a very significant acquisition effect in 22 different branches of activitywhere the manufacturing, capital goods, distribution (wholesale), financial services, engineering and information technology (IT), and construction sectors are the most important.
The report indicates that the sector faces a investment close to 60 billion euros within 10 yearsduring the period 2021-2030.
Impact on the value chain
Furthermore, each year, this investment generates nearly 11 billion euros of GDP, or the equivalent of 17.2% of industrial GDP, having a direct impact on the entire value chain of electric mobility, according to the study. Furthermore, “this GDP allows create around 55,000 jobs per yearthe equivalent of almost 2% of industrial employment in Spain”, say its promoters.
“In short, we are faced with one of the the most relevant industrial, technological and economic power opportunities in the countrywith a strong and growing business ecosystem, committed to high value-added investments and jobs,” the report concludes.
Future of the sector and challenges
Following interviews carried out with AEDIVE’s industrial, technological and service ecosystem, in the field of energy efficiency, the study compiled metrics which conclude that The energy sector currently generates around 14,000 jobs linked to electric mobility in Spain and that 54% of companies generate income through exports.
Furthermore, it is emphasized that Nearly 30 million euros have already been invested in R&D for electric mobility over the last three years, in nearly 70 projects.
AEDIVE underlines that “electric mobility is a sector which, in proportion, is four times more intensive in commercial innovationsince the average of the companies surveyed invests 3.3% of their turnover in R&D, while in Spain, the business sector invests 0.81% of GDP.
Revenue growth
Concerning the forecasts, it appears that for 7 out of 10 companies, their income from electric mobility will increase in the next three years, by more than 30% compared to today.
For 7 out of 10 companies, there is an undeniable degree of confidence that the electric mobility sector will be a technology and wealth driver in Spain by 2030.
In addition, 64% of companies consider the investment commitment of the public administration to be sufficient, but with great room for improvement to strengthen the driving dynamism and wealth creation that are currently being built in Spain .
Insufficient incentives
Regarding incentives in Spain, for 64% of the sector, they are not “sufficient for companies to invest in electric mobility technologies and solutions. A reorientation of these incentives is necessary so that they facilitate the channeling of private investments with strong global impact.
Finally, for AEDIVE, electric mobility in Spain is still at an embryonic stage of financial profitability. Six out of ten companies are struggling to achieve sufficient profitability to recover and make profitable the investments developed so far.
