Hyperdrive
Italy Weighs $1 Billion Package to Boost Electric-Vehicle Sales
- Draft document is being discussed by industry ministry
- Aim is to change one of Europe’s oldest vehicle fleets
An MG electric SUV charges at a hub in Milan, Italy.
Photographer: Gabriel Bouys/AFP/Getty Images
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The Italian government is considering a €930 million ($1 billion) plan to encourage people to turn in their gasoline or diesel cars and buy electric vehicles instead, according to a draft document seen by Bloomberg.
The package, under discussion by the industry ministry, would include financial incentives worth as much as €13,750 to allow citizens with an annual income lower than €30,000 to scrap their Euro 2 models, which are more than 20 years old, in favor of new electric cars.