Spanish government extends aid scheme for purchase of electric vehicles

THE Spanish Government has extended the aid programme for the purchase of an electric car for another seven months.

As announced on Tuesday, November 14, the scheme which was scheduled to expire on December 31 will now run until July 31, 2024.

Prorrogamos las ayudas para movilidad eléctrica del plan MOVES III ⚡️
→ Hasta el 31 de julio de 2024
→ 1.200 millones € de inversión

Objetivo 2030: 5.5 millones de coches eléctricos

Innovación 🫱🏽‍🫲🏼 Sostenibilidad

— Transición Ecológica y Reto Demográfico (@mitecogob) November 14, 2023

Today’s extension was approved at the request of the Ministry of Ecological Transition in what was foreseeably the last Council of Ministers of the Government in office before the new investiture of Pedro Sánchez later this week.

The MOVES III Programme was set up with resources from the EU’s Next Generation recovery fund after being allocated €1.2 billion, of which €290 million are still available.

Why was the MOVES III Programme launched?

It was put in place with the objective of offering motorists an incentive to purchase electric vehicles and charging points. So far, the Ministry has offered a positive assessment of the plan’s acceptance, which has allegedly exceeded all expectations.

It reported that the National Recovery and Resilience Plan had established the objective of reaching 238,000 requests for help in purchasing electric vehicles and charging points in 2023, according to 20minutos.es.

In one of its milestones related to the electric vehicle, it said: ‘the objective has been met’ because ‘there are more than 250,000 registered applications’.

With the money that is still available in the MOVES III Programme, the government hopes to replace the current fleet of combustion engine vehicles and reach its planned target of 5.5 million electric cars circulating on the roads of Spain by 2030.