Italy's new electric car incentives for 2023 are official. The decree approved by the government is part of the fund earmarked for the automotive sector, i.e. about 8.7 billion for the years 2022-2023-2024 identified for the provision of subsidies for the purchase of low-polluting and low-emission vehicles and charging infrastructure. Which countries have the best incentives for electric vehicle (EV) purchases? Let's have a closer look at the electric car incentives Italy for 2023 and find out how Italy compares.
Italy electric car incentives 2023: all the news
The purchase of environmentally friendly cars and motorbikes is the almost obligatory future of every city in the world. In this regard, to encourage the purchase of electric cars in 2023 in Italy, new incentives have been approved by the Italian government. What incentives are there for buying electric cars in Italy? Among the most important novelties on the 2023 electric car incentives in the Official Gazette from 4th October 2022, there are contributions for the purchase of recharging stations and the inclusion in the list of beneficiaries of new subjects, such as long-term rental companies and company fleets with a doubled contribution for people with incomes below 30,000 euros.
The Ecobonus measure provides for a gradually increasing financial coverage, i.e.: about 225 million have been earmarked for purchases in 2022, 235 million for 2023 and 245 million for 2024. This is a fund of about 650 million euros in total, distributed as follows:
- 250 million euros for electric cars;
- 220 million euros for plug-in hybrid cars;
- 170 million euros for low-emission endothermic cars.
As is well known, the 2023 electric car incentives provide not only for subsidies for the purchase of electrically powered vehicles, but also for the purchase of petrol and diesel cars and motorbikes, provided they fall within the 61-135 g/km CO2 range. For this band, the 2023 electric car incentives provide for a total financial coverage of 150 million.
Finally, 10 million euros has been earmarked for the purchase of non-electric motorbikes and mopeds, and 15 million euros for vehicles in the L1e, L2e, L3e, L4e, L5e, L6e, and L7e totally electric category. The subsidies for the purchase of environmentally friendly cars and motorbikes have been in place since May 2022 and, for next year, Italian citizens will be able to buy electric cars with incentives for purchases made between 1st January and 31st December 2023.
How the 2023 electric car incentives work
The recipients of the 2023 electric car incentives are mostly natural persons, who can only access one subsidy per household, even if they opt for a leasing contract. In addition, a portion of the allocated funds goes to long-term rental companies and company fleets as long as they retain ownership for at least one year.
The 2023 electric car incentives in Italy will allow financial contributions ranging from 2,000 to 7,500 euros, categorised according to vehicle type:
- for electric vehicles, 7,500 euros with scrapping and 4,500 euros for people who do not own a car for scrapping;
- for plug-in vehicles in the 21-60 g/km CO2 range, citizens can access a contribution of 6,000 euros with scrapping of the old car or 3,000 euros without scrapping;
- for hybrid, petrol, diesel and mild-hybrid vehicles in the 61-135 g/km CO2 range, the contribution is set at 2,000 euros only if you own a car to be scrapped up to Euro 5.
Italians, therefore, will have access to a wide variety of models with the 2023 electric car incentives. However, it should be kept in mind that, for those who exceed the income threshold of 30,000 euros, the granting of subsidies is as follows: for electric vehicles, such persons will be able to obtain 5,000 euros with scrapping of the old car and 3,000 euros without scrapping, while plug-in vehicles up to 60 g/km CO2 will be able to claim 4,000 euros with scrapping of an old car and 2,000 euros without scrapping.
Electric cars 2023 with incentives: Wallbox charging stations
A further contribution is envisaged for the purchase and installation of infrastructure for recharging electric cars. The planned incentives amount to 40 million euros to enable the subsidised installation of recharging wallboxes. The measure will allow natural and legal persons to benefit from a contribution for the installation and purchase of charging stations equal to 80 per cent of the expenditure made.
The maximum limit for this contribution is 1,500 euros. However, the 2023 electric car incentives can be up to 8,000 euros if the stations are installed in apartment buildings.
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