Photo by Michael Marais on Unsplash, Text by HubpyMalta

Malta’s Green Revolution

A quiet revolution in new energy vehicles is unfolding in Malta. The Minister for Transport recently announced an exciting plan to launch a €15 million financial incentive scheme specifically for the purchase of new electric vehicles (EVs) and motorcycles, including the latest pedelecs. This initiative is not only part of the 2024 budget measures aimed at encouraging the adoption of electric vehicles and motorcycles but also reflects support for individuals, voluntary organizations, and businesses.

EU Funding Support

The policy is backed by funds from the European Union’s Recovery and Resilience Plan (RRP), from which Malta received €50.3 million. These funds are intended to address challenges related to increased energy consumption and waste generation due to population, employment, and GDP growth. Originally scheduled for implementation from 2022 to 2024, these funds have been successfully extended until the end of 2025, ensuring that financial incentives will continue to be provided through EU RRP funds in 2025.

Incentive Measures

To encourage the shift towards more environmentally friendly transportation, the scheme offers various subsidies for buyers of new electric vehicles, motorcycles, and pedelecs. Subsidies range from €500 for a new pedelec to €2000 to €6000 for electric motorcycles, tricycles, and quadricycles. Additionally, cars and vans are eligible for a subsidy of €11,000, while larger vehicles used for passenger or cargo transport will receive higher subsidies, determined on a case-by-case basis.

Scrappage Scheme

Alongside the new purchase program, a scrappage scheme will also be implemented. Financial incentives for scrapping vehicles include €500 for motorcycles, €1,000 for cars, €30,000 for small vans, and up to €50,000 for long-distance coaches over ten years old. The scheme will also continue to provide an additional €1,000 financial subsidy for scrapping vehicles registered in Gozo.

Simplified Application Process

To make it easier for interested parties to participate in the program, Transport Malta will introduce an online system to simplify the application process. This means that individuals and organizations interested in taking advantage of these incentives will have easier access to them.

Looking Forward

Through these incentive measures, the Maltese government not only demonstrates its commitment to environmental protection and sustainable transportation development but also lays a solid foundation for Malta and its sister island Gozo’s transition to clean and sustainable mobility. With the implementation of these plans, Malta is expected to make significant progress in clean energy and green transportation, creating a greener and more sustainable future for all residents.

Malta’s Electric Vehicle Incentive: New Government Subsidy Policy Unveiled – 2024

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