en:company:Annual Report:Sustainable and competitive growth IE/EN

Sustainable and competitive growth

If anyone in the automotive industry thought that things would go back to ‘normal’ after the COVID-19 pandemic and the global supply shortages, 2022 certainly proved them wrong. The war in Ukraine and its associated energy crisis have added to our list of challenges – all taking place as our industry is in the middle of a fundamental transformation process that still is accelerating.

What does that mean for SEAT S.A.? The company has decided to see this set of circumstances as a unique opportunity. The future is electric and in 2022 SEAT S.A. made significant steps along its transformation journey – towards a more robust, agile, and profitable organisation, as shown by the results of the last year.

At the heart of this journey is CUPRA, which has exceeded all expectations since its launch in 2018. In 2022, the company sold more than 150,000 CUPRA cars, as well as taking the brand to Australia as the first step in its international expansion. It was also a year when CUPRA set out its vision for the future – announcing three new electrified models. The CUPRA Terramar, CUPRA Tavascan and CUPRA UrbanRebel encapsulate the brand’s new era and will play a vital role.

Spain is rightfully proud of its position as the second-largest car manufacturer in Europe. In 2022, SEAT S.A. took a big step forward in securing this status for the future by accepting the Spanish government’s PERTE VEC resolution, along with the Volkswagen Group, PowerCo and our Future: Fast Forward partners.

This allows us to lead from Spain the development of vehicles based on the Small BEV platform for different Group brands and electrifying the Martorell and Pamplona factories to democratise the access to electric mobility. Along with the construction of the PowerCo cell battery plant in Valencia, the plan is strengthening Spain’s competitiveness on the global automotive stage.

SEAT S.A. is a company with clear direction. With its six strategic pillars it is creating a platform for sustainable and competitive growth: pursuing electrification, growing CUPRA, transforming the organisation and its culture, strengthening the business model, delighting customers and focusing on sustainability. This is a plan that everyone in the organisation believes in – and I know that you have the right team, led by Wayne Griffiths, to carry it out. Keep on pushing!