Italy to give electric car buyers up to 6000 euros subsidy

Italy plans to offer up to 6000 euros subsidy to new electric car buyers in an attempt to promote zero-emission mobility in the country. The Italian government aims to offer the subsidy on the purchase price of new electric vehicles as part of its strategy to support the country's automotive industry, reports Reuters.

By: HT Auto Desk
| Updated on: 14 Mar 2022, 10:32 AM
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New electric cars will attract a subsidy from the Italian government. (REUTERS)
New electric cars will attract a subsidy from the Italian government.

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The Italian government reportedly has set aside 8.7 billion euros for subsidising the new electric vehicles until 2030. This includes around 700 million euros to be offered as subsidy in this year, the report further claims.

Reuters also reports that the subsidy of up to 6,000 euros is subject to the purchase of new electric vehicles that cost up to 35,000 euros and includes a 2,000 euro contribution linked to the scrappage of a polluting internal combustion engine-powered car.

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Not only battery electric vehicles, but the Italian government aims to subsidise hybrid electric vehicles as well. The subsidy will be applicable for the hybrid electric vehicles that cost up to 45,000 euros. For these hybrid electric vehicles, the country will offer subsidies of up to 2,500 euros. The plan also includes incentives of 1,250 euros for the new internal combustion engine-powered Euro-VI compliant cars when older vehicles are scrapped, reports the new agency.

Italy is not the only country that is offering incentives and subsidies to electric vehicle customers in an attempt to promote zero-emission mobility. Several other countries such as Norway too have announced similar measures to encourage the consumers to shift from internal combustion engine vehicles to electric vehicles.

The European countries are aiming at achieving zero-emission mobility through several different measures. One of them is offering subsidies and incentives to the new electric vehicle buyers. Another move is imposing a deadline for internal combustion engine vehicles.

First Published Date: 14 Mar 2022, 09:54 AM IST
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