Buy An Electric Vehicle In Valencia And Get Up To €7,000 Subsidy

If you buy an electric vehicle in Valencia, the local government will assist you with a considerable discount thanks to the “Moves III” initiative.

Individuals, self-employed employees, and entities will receive €7,000 in subsidies for electric vehicles and 5,000 euros for plug-in hybrids from the Department of Sustainable Economy, Productive Sectors, Commerce, and Labor through Ivace (Valencian Institute of Business Competitiveness). 

The Ivace recently issued a call for application submissions with the goal of encouraging the purchase of electric vehicles while reducing polluting gas emissions and improving air quality.

According to Julia Company, general director of Ivace, the transportation sector “is the one with the highest energy consumption in the Valencian Community, and practically all of this consumption comes from oil, so it is essential to carry out active policies to promote a more sustainable type of mobility.” As a result, Ivace will subsidise either direct acquisition or leasing by renting (also known as operating leasing) processes for the purchase of new vehicles.

To get your electric vehicle in Valencia subsidized, prospective buyers must contact one of the program’s dealers or points of sale. The application will then be processed electronically. What is intriguing is that businesses of all sizes will be able to fully benefit from this programme, which will allow them not only to use the cleanest and most efficient modes of transportation, but also to renew fleets utilising vehicles that use renewable energy.

The amounts vary depending on the type of vehicle, the applicant (self-employed individuals and entities, SMEs, or large corporations), and whether or not an old vehicle is scrapped. 

If you are an individual and decide to purchase a new vehicle but do not have one that can be scrapped, you will be eligible for a €4.500subsidy for a pure electric car or a €2,500  subsidy for a hybrid. If you have an old vehicle that you can scrape, this amount will increase to €7.000 and €5.000, respectively. In the case of electric motorcycles, the incentive can be up to €1,300 with scrapping and €1,100 without scrapping.

The electric vehicle’s price cannot exceed €45,000, with the exception of electric models with eight or nine seats, which may cost up to €53,000. The price of electric motorcycles may not exceed 10,000 euros.

Similarly, self-employed professionals purchasing electric vans will be subsidised with up to €9,000 if the user scraps his old vehicle and up to €7,000 if he does not.

Furthermore, the Moves III programme provides an additional 10% aid to actions in municipalities with fewer than 5,000 inhabitants, both for the installation of charging infrastructure in these areas and for the purchase of vehicles by people registered in them. It also provides an additional 10% for people with limited mobility.

This programme will run until 2023, or until all 30 million euros are spent, and it is expected to aid in the diversification of energy sources in transportation, resulting in less reliance on petroleum products.

The call for proposals for the installation of electric recharging points will be published in the coming days, with a budget of 10.5 million euros.

The Moves III programme will officially begin on July 22, with the first applications being accepted on July 29.

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