SODERCAN (Sociedad para el Desarrollo de Cantabria), part of the Ministry of Industry of the Government of Cantabria, has awarded a grant of some 2.5 million euros (2.459.704,71) to SEG Automotive, to be disbursed in three annual instalments to support the competitivity plan at Treto (Bárcena de Cicero).
The investment is specifically aimed at supporting the project for the design of an electronic inverter, with a total budget of over 10 million euros, and declared to be of public economic interest by the Government of Cantabria in late 2019.
The subsidy is part of SODERCAN’s initiative to support large-scale projects to improve industrial competitivity in the region and is in addition to the 450,000 euros approved in 2020 for this same initiative and further grants of 127,567 euros. In total, the Government of Cantabria has contributed over three million euros to these efforts in recent years.
The president of Cantabria, Miguel Ángel Revilla, has highlighted the importance of the company, with over 800 employees, as a key asset in the economy of Cantabria as a whole and for the east of the Community. Nissan represents 2.5 of the GDP of the region and provides direct and indirect employment to some 3,500 people in Cantabria.
The president also referred to the importance the Cantabrian government gives to this modernisation project, which “will be the future of the automobile, electric or hybrid”, adding that he hoped the Cantabria Government will not be alone in providing support but “we hope and expect that the Government of Spain will view this project as part of the European Union’s ambitions for decarbonisation and the green economy and in line with European recommendations”.
The plant manager, Iñaki Calvo, commended the Government of Cantabria for its continued support of the company’s projects.
Support from SODERCAN
With this grant from SODERCAN, the Government of Cantabria demonstrates its support for innovation at SEG Automotive, assisting the company in meeting the needs of a dynamic and challenging market, while increasing its portfolio and enhancing the quality of its products.
SEG Automotive is a key company in the automotive components sector, a strategic area accounting for 30% of the industrial GDP of Cantabria and with a significant dynamising effect on other sectors. The companies within the GIRA cluster represent 93% of the sector, accounting for 7,900 jobs, 67% of exports and with an annual turnover of 2.2 billion euros.
Through this grant the Government of Cantabria is helping to ensure SEG Automotive’s future viability and employment in the face of the many challenges presented not only by the transition to electric vehicles but also the volatility of energy costs and disruptions in global energy supply chains.
The SEG Automotive is transforming the Treto plant into a Smart Factory with an exclusive department dedicated to electronics with highly-qualified personnel developing new electrification systems for mobility. The plant is being reconfigured to begin manufacturing hybrid 48V and HV (High Voltage) machines.