- Italy aims to replace its aging internal combustion engine-powered vehicles with electric vehicles.
Italy is considering a $1 billion plan to boost sales of electric cars in the country, Bloomberg reported. The European country is reportedly planning to launch an incentive program aimed at replacing the country’s aging internal combustion engine-powered vehicles with electric vehicles. The report also claimed that Italy has one of the oldest car fleets in Europe.
The report also discusses the Italian government’s incentives to provide fiscal stimulus payments of up to $15,030 to citizens earning less than $32,780 per year to encourage them to phase out conventional ICEs in compliance with Euro 2 emissions standards. He said he is doing so. – Purchase an electric car manufactured more than 20 years ago and purchase a new electric car. The Italian government reportedly plans to discuss the plan with car manufacturers in February 2024.
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Regarding the program, the Italian government reportedly said it was considering changes to the country’s fleet, which is one of the oldest in Europe. The financial incentives are also aimed at supporting low-income households and the purchase of domestically manufactured cars, the draft report said.
Fiat, one of the world’s leading car manufacturers, is based in Italy. It is now part of the global car manufacturing group Stellantis, following the merger of GFiat Chrysler Automobiles and France’s PSA Group. The country has a strong tradition of car manufacturing. According to an announcement by the automobile manufacturer organization UNRAE, the number of new car registrations in Japan will increase by 19% from the previous year to more than 1.5 million in 2023 compared to 2022. However, passenger car sales remained 18.3% below the 2019 level before the spread of the coronavirus. The share of electric vehicles in Italy’s total passenger car sales was just 4.2% in 2023, below the European average and even below the level of the continent’s major car manufacturers.
First edition publication date: January 4, 2024, 10:03 AM IST