The Italian government has also set aside $9.6 billion for electric car subsidies until 2030. Of which, $775 million is allocated for this year.
Not only that, the Italian government also provides subsidies of up to 2,500 euros to consumers who want to buy hybrid cars. For car owners who have a vehicle with an old production year, they will receive a compensation of 1,250 euros, if they want to dispose of their car.
Italy joins the United States and other countries in offering buyers incentives to buy electric, non-polluting vehicles.
The United States government has been coordinating with its trading partners, as it proposes greater incentives for domestically made vehicles by unions.
Italy’s Transitional Minister for Ecology has recently spoken with the European Union to make an exception to the proposed 2035 ban of internal combustion engines for low-volume supercar manufacturers. This is because the supercar manufacturer is too small to switch to electrification as quickly as a high-volume production producer.