New aid for the purchase of electric cars: this is how the new incentives from the Ministry of Industry are
Hereu also announces subsidies to encourage energy efficiency in industrial sectors
Madrid1.000 million euros. With this figure under his arm, the Minister of Industry, Jordi Hereu, announced two measures at the press conference of the Council of Ministers: on the one hand, 400 million euros for direct aid for the purchase of electric vehicles; and, on the other hand, 600 million intended for subsidies so that industrial sectors improve their energy efficiency and reduce carbon emissions. "The reindustrialization of Spain will be done through the energy transition," declared the minister.
Direct aid for electric cars
Hereu has announced the bases of the new aid for electric cars, called Autoplus, which aim to "incentivize" the demand for electric passenger cars, vans, light trucks, and motorcycles. According to data from the last month, the sale of electrified vehicles in Spain was 23% and the ministry's objective is to progressively increase this figure.
How will these aids work? They will be applied retroactively from January 1st and are aimed at individuals, the self-employed, SMEs, and micro-enterprises. They can begin to be processed electronically once the subsidy bases are officially published. These aids, as explained by the minister, will work on a percentage basis: if they meet the criteria of being electric, of an affordable car price (less than 35,000 euros), and produced in Europe, they will be eligible for the maximum possible amount of money. If there are criteria that are not met, the percentage of the aid will be reduced. The total budget for these concessions will be 400 million euros.
Subsidies for industrial sectors
The other measure announced by Minister Hereu is 600 million in subsidies to offset the indirect costs of carbon emissions. They are aimed at industrial sectors at greater risk with the idea that, thanks to the subsidy, they will invest in energy efficiency measures. They will have up to three years to demonstrate that these measures have been taken in favor of decarbonization.