Italy will subsidize purchase of electric vehicles as it aims to boost country's automotive industry
Rome has set aside 8.7 billion euros until 2030, including around 700 million euros for this year, to support its carmaking industry.
New Fiat 500 electric cars are displayed at a Fiat Chrysler event held to unveil its first electric model, in Milan, Italy, March 4, 2020. REUTERS/Flavio Lo Scalzo The subsidy of up to 6,000 euros is subject to the purchase of new vehicles costing up to 35,000 euros and includes a 2,000 euro contribution linked to the scrappage of a polluting combustion-engine car.
The purchase of hybrid electric vehicles costing up to 45,000 euros will be subsidised with up to 2,500 euros, while the plan also includes incentives of 1,250 euros for state-of-the art combustion-engine cars when older vehicles are scrapped, the source said.Reporting by Giuseppe Fonte, Writing by Giulio Piovaccari, Editing by Paul Simao
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