₹ 5 lakh subsidy for electric car buyers in Italy

Mar 14, 2022 1 min read
₹ 5 lakh subsidy for electric car buyers in Italy

According to Reuters, Italy plans to offer new electric vehicle buyers a 6000-Euro subsidy to boost zero-emission mobility. The Italian government has allocated 8.7 billion euros to new electric car subsidies until 2030. The report claims that this year's subsidies would be roughly 700 million euros.

The subsidy will be offered for the purchase of new electric cars costing up to 35,000 euros. The government will also offer a 2,000-euro contribution towards scrapping a polluting internal combustion engine-powered car.

The Italian government wants to subsidize hybrid electric vehicles as well. The subsidy would cover hybrid electric cars up to 45,000 euros, and the country would subsidize these hybrid electric vehicles by up to 2,500 euros. The plan also offers 1,250 euro incentives for new internal combustion engine Euro-VI compliant cars when scraping older vehicles.

Italy offers electric car consumers subsidies and incentives to encourage zero-emission mobility. Other countries, including Norway, have announced similar measures to encourage people to switch from petrol to electric vehicles.

Through various diverse measures, European countries are striving to achieve zero-emission mobility. One of them is to offer new electric car buyers subsidies and incentives, and another is to impose a deadline for internal combustion vehicles.

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