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Covid-19: Spain plans €3.7b auto sector aid package, says PM


Spanish Prime Minister Pedro Sanchez wears a face mask and protective gloves as he visits a respirators factory amid the coronavirus disease (Covid-19) outbreak in Mostoles April 3, 2020. — Reuters pic
Spanish Prime Minister Pedro Sanchez wears a face mask and protective gloves as he visits a respirators factory amid the coronavirus disease (Covid-19) outbreak in Mostoles April 3, 2020. — Reuters pic

MADRID, June 14 — Spain plans a €3.7 billion (RM17.7 billion) aid package for its automobile sector, hit hard by the coronavirus pandemic, to promote investment and the purchase of vehicles, specially electric models, Prime Minister Pedro Sanchez said today.

Sanchez said details of the plan, which will also include fiscal and research measures, would be announced tomorrow for a sector that accounts for a tenth of Spain’s national output and close to a fifth of its exports.

The lockdown, imposed to curb the spread of the new coronavirus, has battered car sales in Spain. — Reuters



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