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.”