The Italian government will incentivise electric and low-emission vehicle purchases over the next three years. A total of €650 million will be made available in 2022, 2023, and 2024. The investment is taken from the government''s automotive fund, which has a total budget of €8.7 billion until 2030.
''With the green light to the incentives, we are giving a concrete and long-awaited response to the automotive sector, which is going through deep suffering,'' said Italian minister of economic development, Giancarlo Giorgetti. ''The multi-year measure will allow companies to make industrial plans on the road to development.''
Based on a decree proposed by Giorgetti and signed off by prime minister Mario Draghi, the new incentives look to reshape the purchase of electric, hybrid and low-emission vehicles. This includes cars, motorbikes, and commercial vehicles.
Private consumers will be able to claim a subsidy of €3,000 for an electric car with a net price of up to €35,000. The new model must have an CO2 emissions range of 0-20g/km. Another €2,000 will be granted if an internal-combustion engine (ICE) car at or below the Euro 5 level is scrapped as well. These electric vehicles (EVs) have been assigned €220 million this year, €230 million in 2023, and €245 million in 2024.
Purchases of plug-in hybrids (PHEVs) with a 21-60g/km emission range and a net €45,000 price tag, will be backed by a €2,000 incentive. Another €2,000 can be contributed if an ICE model at or below the Euro 5 level is scrapped. This PHEV incentive will be funded with €225 million in 2022, €235 million in 2023, and €245 million in 2024.
Electric and hybrid mopeds and motorcycles will also receive a 30% contribution towards their purchase price, up to a maximum of €3,000. If a corresponding vehicle fitted with an ICE at Euro 3 or older is scrapped, the incentive ceiling rises to 40%, up to a maximum of €4,000. The budget for these two-wheelers is set at €15 million for 2022, 2023, and 2024.
Small and medium-sized enterprises (SMEs) will be able to apply for a €4,000 incentive for a battery-electric vehicle (BEV) weighing up to 1.5 tonnes. €6,000 will be available for those in the 1.5 tonne to 3.5-tonne category, €12,000 for those between 3.5 tonnes and seven tonnes, and €14,000 between seven tonnes and 12 tonnes. A budget of €10 million has been set aside for 2022, €15 million for 2023, and €20 million for 2024.
In March, Italy''s new-car market suffered a 29.7% year-on-year decline, with only 119,497 registrations. COVID-19 is continuing to deal damage, the war in Ukraine is harming supply chains, and inflation is on the rise. But another major factor has been the restraint of consumers as they awaited the return of incentives.
However, those hoping this latest round of funding will totally turn around the fates of the Italian new-car market will likely be disappointed. Even Giorgettirecognised that the crisis in the sector is beyond such incentives.
''I am convinced that incentives are not the solution to the crisis in the sector, which needs to undergo a thorough overhaul, but they are an emergency instrument to get through a difficult period,'' Giorgettisaid. ''First the pandemic, then the shortage of raw materials and now the war is also putting a strain on this sector, which is one of Italy’s flagships.''
Chime in with article commenting.
Italy is synonymous with performance-driven brands such as Ferrari, Lamborghini, Ducati, and Aprilia. However, the country also regularly backs the adoption of electric vehicles. On February 18, 2022, Prime Minister Mario Draghi announced the Ecobonus program and officially signed a decree to initiate the new electric vehicle purchasing incentives on April 18, 2022. Less than a month later, on May 16, 2022, the new campaign went into effect, making electric vehicles more attainable for consumers throughout Italy.
Electric vehicle dealers will be able to access the Ministry of Economic Development''s booking platform starting on May 25, 2022. That won''t stop buyers from enjoying the incentives now, though, with shops backlogging sales to the system until the launch date. Overall, Ecobonus will set aside €650M ($688M USD) between 2022 and 2024 to help the public purchase electric and low-emissions vehicles while also promoting motorists to scrap Euro 0-5 vehicles.
For car-buying customers, the program will offer €3,000 ($3,175 USD) for electric cars up to €35,000 ($37,000 USD). Customers can gain an extra €2,000 ($2,115 USD) toward their purchase if they trade in a Euro 5-compliant internal combustion engine model. The government will allocate €220M ($232.8M USD) in 2022, €230M ($243.4M USD) in 2023, and €245M ($259.3M USD) in 2024.
Two-wheeled customers will also benefit from the incentives program. Electric and hybrid light vehicles that fall into Italy''s L1e, L2e, L3e, L4e, L5e, L6e, and L7e categories will qualify for the program, which includes both motorbikes and scooters. Buying one of those vehicles will save the consumer 30 percent of the purchase price, but the program caps that incentive at €3,000 ($3,175 USD). Those scrapping a Euro 3 or older model during the sale will earn a 40-percent discount up to a maximum of €4,000 ($4,233). The annual budget for two-wheelers is much smaller, though, at just €15M ($15.9M USD) from 2022 to 2024.
"With the green light for the incentives, we are giving a concrete and long-awaited response to the automotive sector, which is in deep crisis," explained Prime Minister Draghi. "The multi-annual measure will allow companies to carry out industrial planning on the road to development."
If you''re all about that sweet, sweet justice, then this is a two-for-one.
It''s a point-by-point refutation in the cattiest, pettiest legalese, and it''s hilarious.
The Italian government is contemplating a substantial 930-million-euro ($1 billion) initiative designed to incentivize the transition from traditional gasoline or diesel vehicles to electric cars, according to multiple media sources.
The proposed package involves financial incentives reaching up to 13,750 euros, targeted at individuals earning less than 30,000 euros annually, to facilitate the exchange of their Euro 2 models—over two decades old—for new electric vehicles.
The primary objective, as outlined in the document, is to “transform Italy’s vehicle fleet,” addressing the prevalence of aged Euro 3 cars and lower-grade vehicles, which currently number at least 11 million. The initiative aims to support low-income families and bolster the acquisition of domestically manufactured cars.
Scheduled for presentation at a meeting with representatives from the automotive sector on February 1, this plan reflects a strategic effort by the Italian government to modernize its vehicle landscape, acknowledging its standing as one of the oldest in Europe.
New car registrations in Italy surged by 19 percent in 2023, reaching approximately 1.57 million, as reported by transportation ministry data released on Tuesday.
However, Italy’s electric vehicle (EV) market share remains comparatively lower than that of other major European economies.
The Italian government is allocating 650 million euros annually for 2022, 2023 and 2024 for incentives to purchase electrified and low-emission vehicles. Private individuals can receive a subsidy of 3,000 euros for the purchase of new electric cars. Small and medium-sized enterprises will also be supported.
The measure is based on a decree proposed by the Minister of Economic Development, Giancarlo Giorgetti. The decree, which Prime Minister Mario Draghi has now signed, reshapes incentives for the purchase of electric, hybrid and low-emission cars and motorbikes and provides funding.
The money is part of the government’s allocation for the Automotive Fund, which has a total budget of €8.7 billion until 2030. In October, the country had increased the eMobility funding budget and in the meantime raised the funding rates over the summer.
Specifically, the new plans now provide that private individuals will receive a subsidy of 3,000 euros for the purchase of new electric cars with a net price of up to 35,000 euros. A further 2,000 euros will be granted if a combustion engine of emission class Euro 5 or worse is scrapped in parallel. For these pure e-vehicles, 220 million euros are available in 2022, 230 million in 2023 and 245 million in 2024.
Further subsidies are granted by the Italian government to small and medium-sized enterprises for the procurement of purely electric vehicles: 4,000 euros for vehicles up to 1.5 tonnes, 6,000 euros for vehicles between 1.5 and 3.5 tonnes, 12,000 euros for vehicles between 3.5 and 7 tonnes and 14,000 euros for vehicles from 7 to 12 tonnes. A budget of ten million euros is available for these vehicles in 2022, 15 million in 2023 and 20 million in 2024.
Incentives will also be provided for the purchase of electric and hybrid light vehicles such as mopeds and motorbikes (categories L1e, L2e, L3e, L4e, L5e, L6e, L7e): a subsidy of 30 per cent of the purchase price up to a maximum of 3,000 euros or 40 per cent of the purchase price up to a maximum of 4,000 euros if a corresponding combustion vehicle of emission class Euro 3 or worse is scrapped at the same time. For light vehicles, the budget is 15 million euros in the years 2022 to 2024.
About Italy electric vehicle incentives
As the photovoltaic (PV) industry continues to evolve, advancements in Italy electric vehicle incentives have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Italy electric vehicle incentives for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Italy electric vehicle incentives featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
