Italy wants 1 Million Electric Cars on the Road By 2022

Italy, one of Europe’s most sluggish market for electric cars, aims to put 1 million electric vehicles on the road by 2022. The plan could cost the state $10 billion in incentives.

The proposal is part of the contract between the Five Star Movement and the League, which calls for reductions in gasoline and diesel vehicles, and for incentives to support the acquisition of electric and hybrid vehicles.

According to the European Automobile Manufacturers Association, Italians bought around 2,600 fully electric passenger vehicles last year, out of a total of 2 million cars sold. The number rises to 4,800 in plug-in hybrid models. Less than 5,000 fully electric models are estimated to be on Italian roads today.

The Italian government is looking into ways to roll out incentives to reach the level of Norway’s, in order to go from being an electric vehicles backwater to one of Europe’s biggest market. The push could cost several billion euros, and even that might not be enough.

electric-cars-vehicles-Italy

The Italian government also announced plans to ban private diesel vehicles within the historical center as of 2024.

Incentives in Norway, Europe’s electric vehicles leader, range from tax breaks to exemptions from tolls. Norwegians benefit from $7,000 to $10,000 in incentives on an e-car version of a Volkswagen model.

The Italian government also announced plans to ban private diesel vehicles within the historical center as of 2024. It has still a long way to go. Despite the sluggish development, the government’s ambition is lofty enough to send a strong signal to electric carmakers as well as the charging infrastructure industry so they may accelerate e-car adoption in the country.

According to Bloomberg, the government may need help from state-owned Enel SpA, one of Europe’s biggest utility, to invest in more than a hundred million to install up to 14,000 charging stations in Italy by 2022. Enel’s inexperience in this sector will only compound the problem.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

Ford sees surprise Q2 profit despite chip shortage and manufacturing hassles

“The business is ‘spring loaded’ for a rebound when semiconductor supplies stabilize and more closely match demand.”
4 hours ago
Audi A6 E-tron Production Launch in 2023

Audi A6 E-tron Production Launch in 2023

Audi has confirmed that there will be multiple variants of the etron, including “basic versions optimized for minimum consumption and maximum range.
20 hours ago
Royal Dutch Shell buyback lifts investor sentiment

Royal Dutch Shell buyback lifts investor sentiment

Royal Dutch Shell commences share buybacks before the end of this year while reducing its first quarter dividend to 16 cents per share, a 66% cut.
21 hours ago
Citizens Financial to acquire Investors Bancorp in $3.5 billion NYC push

Citizens Financial to acquire Investors Bancorp in $3.5 billion NYC push

Citizens Financial Group, Inc. and Investors Bancorp announced today that they have entered into a definitive agreement and plan of merger in a cash-and-stock deal worth $3.5 billi
2 days ago
Apple Q3 Earnings Break Records Again!

Apple Q3 Earnings Break Records Again!

Apple Q3 earnings prove the Cupertino giant remains unaffected by the Covid-19 pandemic as sales rise across all product lines.
2 days ago
Strong iPhone 12 sales could boost Apple’s Q3 2021 earnings

Strong iPhone 12 sales could boost Apple’s Q3 2021 earnings

Will Apple manage to post solid earnings in Q3 2021? Here’s what Wall Street’s top analysts have to say ahead of Apple’s Q3 2021 earnings report today.
3 days ago