The legality of Slovakia's plan to grant €125 million to Jaguar Land Rover to support a new factory in the country is being investigated by the European Commission. The plant will build up to 300,000 cars annually and is due to open next year. The European Commission's press release is here.
Showing posts with label state aids. Show all posts
Showing posts with label state aids. Show all posts
Thursday, 25 May 2017
Tuesday, 29 November 2011
Romania: Ford face fine for underproduction
At first sight, it could be a throwback to the era of centrally-planned economies: why on earth might the authorities in Romania be threatening to fine Ford for not making enough cars at its plant at Craiova?
The answer, as Bloomberg (along with several other websites) reports, is that the manufacturer received state aid to set up the factory in the first place, and the production targets form part of the agreement supporting the financial help. 250,000 was the contractual volume this year, and going by the reports Ford haven't missed it very narrowly - so far they have manufactured only 7,600 units. €14 million is the fine being mooted, even though Romania isn't yet in the Eurozone (and might be wondering whether it really wants to join next year, as it plans).
The answer, as Bloomberg (along with several other websites) reports, is that the manufacturer received state aid to set up the factory in the first place, and the production targets form part of the agreement supporting the financial help. 250,000 was the contractual volume this year, and going by the reports Ford haven't missed it very narrowly - so far they have manufactured only 7,600 units. €14 million is the fine being mooted, even though Romania isn't yet in the Eurozone (and might be wondering whether it really wants to join next year, as it plans).
Thursday, 21 July 2011
Commission investigates BMW and VW state aid
The European Commission has opened a formal investigation into German aid to BMW and Volkswagen. Here is the press release.
Subscribe to:
Posts (Atom)