Overview
- The credit line is managed through Spain’s Dirección General de Programas Industriales and will be disbursed in three annual tranches of €67 million, €40 million and €25 million.
- CEO Justo Sierra said the company aims to deliver the first VERT prototypes in 2026, followed by a preseries phase and a ramp to higher supply levels around 2029–2030.
- Urovesa is adapting more than ten hectares at its Valga site with an investment of about €52 million to enable output of up to 5,000 vehicles per year.
- Plans call for at least 100 additional direct jobs and 400–500 including the auxiliary industry, with a goal to double engineering and factory roles.
- Urovesa reported €122 million in 2024 revenue and €17 million net profit, projects about €150 million for 2025, and received public backing from Defence Minister Margarita Robles during her plant visit.