Financial Times FT.com

Spain unveils €4bn lifeline for motor industry

By Victor Mallet in Madrid

Published: February 14 2009 02:00 | Last updated: February 14 2009 02:00

Spain yesterday joined the chorus of European governments announcing aid for their motor industries, unveiling a €4bn ($5.1bn, £3.6bn) assistance plan and boasting that it was second only to France's in its generosity.

The plan was unveiled by Miguel Sebastian, minister for industry, tourism and commerce, who has recently launched a "Buy Spanish" campaign, while denying any protectionist intent.

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