Heat olive oil in a large pan over medium-high heat. Sauté diced onion and minced carrot for 4-5 minutes until soft and fragrant.
Add minced garlic and ground seitan (or vegan ground beef), cooking for about 5 minutes until the mince is lightly browned. If using Beyond Beef, or Impossible meat, make sure to thoroughly break it up to avoid large chunks forming together.
Deglaze the pan with red wine or vegetable stock, scraping up any bits from the bottom. Let it simmer for a few minutes.
Add canned whole peeled tomatoes with their juice, breaking the tomatoes apart by hand or with a fork before adding them in.
Stir tomato paste, balsamic vinegar, sugar, a bay leaf, oregano, red pepper flakes (if you are using them)salt, and ground black pepper into the pan with the sauteeing vegan meat and crushed tomatoes.
Let the sauce simmer over low heat, uncovered, for about 30 minutes, stirring occasionally. The sauce should thicken and darken slightly. Remove the bay leaf and stir in extra virgin olive oil just before serving.
Serve the bolognese over cooked spaghetti, garnished with chopped parsley and vegan parmesan if desired.