The Italian government is reportedly working on a new subsidy scheme for the spread of electrification which will aim to encourage low-income consumers to replace their older conventional vehicles with purely electric ones, according to reliable sources.
In particular, based on the information available, the new incentives totaling one billion euros will take the form of subsidies that will reach up to 13,750 euros and will be aimed at citizens with incomes up to 30,000 euros per year who own vehicles with Euro 3 technology and/or older , (ie over twenty years old).
The aim of the new subsidy plan is to renew the Italian car fleet which is one of the oldest in Europe as according to the relevant data of the Italians, it is estimated that there are more than eleven million vehicles of Euro 3 technology and older on the roads of the neighbor.
At the same time as the strengthening of electric mobility, the new government plan will also aim to support the local automotive industry as there will be a special mention, which will encourage low-income citizens to buy “Made in Italy” cars.
It should be noted in this regard that the French recently introduced a highly complex subsidy plan for electric vehicles that takes into account geographical origin at the production level to determine a car’s overall carbon dioxide emission levels based on all stages – from production to transport and disposal – and which effectively makes electric cars produced in China ineligible for subsidy.
Based on what has been revealed, the full plan will be announced, initially to the automakers in early February to take effect shortly thereafter.