Press Release: State aid: Commission approves Spanish temporary scheme to support production of green cars

The European Commission authorised, under EC Treaty state aid rules, a Spanish scheme allowing interest rate subsidies for the production of environmentally-friendly ('green') cars. The scheme will make it easier for producers to invest in products with environmental benefits, the development of which otherwise might have been hampered by the economic crisis. The scheme meets the conditions laid down by the Commission’s Temporary Framework that gives Member States additional possibilities for providing businesses with improved access to financing during the economic and financial crisis, as amended on 25 February 2009. In particular, the measure is limited in time and scope, takes into account the risk profile of the beneficiary and requires a significant environmental effort. They are therefore compatible with Article 87(3)(b) of the EC Treaty, which permits aid intended to remedy a serious disturbance in the economy of a Member State.