Electric vehicle incentives extended

The Council of Ministers approved a royal decree that extends the incentive program for electric mobility (MOVES III) until July 31, 2024, extending its validity by seven more months, which would otherwise expire at the end of the year. With the measure, the Government maintains sustained support for the electrification of transport and covers the summer period in which the annual peak in automobile sales is recorded.

According to the Executive, MOVES III is one of the main aid programs of the Recovery, Transformation and Resilience Plan (PRTR), aimed at promoting the purchase of electric vehicles and the installation of charging points. It is managed by the Institute for Energy Diversification and Saving (IDAE), an organisation attached to the Ministry for the Ecological Transition and the Demographic Challenge (MITECO), and the autonomous communities, responsible for the final distribution to the beneficiaries.

MOVES III is endowed with 1.2 billion euro, after experiencing two budget increases due to the large number of applications received. The PRTR establishes the milestone of reaching 238,000 requests for help for electric vehicles and charging points in 2023, there are already more than 250,000 requests registered and there are still around 290 million available to continue meeting demand.

Royal Decree 266/2021 establishes that MOVES III is valid until December 31 and the Government has decided to extend it for seven more months to maintain the promotion of transport electrification and move firmly towards achieving the objective of having 5, 5 million electric vehicles on the road by 2030.

Likewise, the standard approved by the Council of Ministers introduces changes in the regulatory bases of the program that derive from the modification of the General Block Exemption Regulation included in Regulation (EU) 2023/2015, the adaptation of which must be carried out before 31 December 2023.

These European modifications do not affect individuals, self-employed workers, communities of owners or public administrations. For example, they limit the annual budget that can be assigned to each of the specific aid programs for companies to 150 million, and require that the charging points they install with power up to 22 kW have intelligent functionalities. It is estimated that they affect less than 2% of the files.

Considering the entire MOVES electric mobility aid ecosystem designed by the Government, that is, MOVES II and III, MOVES Fleets and MOVES Singulares, aid calls for 1.5 billion have already been launched under the PRTR. Additionally, last June a tax deduction was approved up to a maximum of 15% in IPRF declarations related to investments in electric vehicles or charging points that are compatible with the MOVES III program.

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