New Promovea Plan, 20 million euros earmarked for the purchase of electric cars

Following the success of the recent MOVEA Plan, which was exhausted in just a few hours, it appears that the Ministry of Energy is working on a new aid programme for the purchase of efficient vehicles called the Promovea Plan.

Although it is not yet official, several media outlets suggest that the Government will allocate up to 20 million euros for citizens who wish to purchase an electric or hybrid car.

The latest MOVEA Plan had an allocation of 16 million euros, and after it ran out in less than 24 hours, the Institute for the Diversification and Saving of Energy (IDAE) has developed this new proposal. The Promovea Plan will increase the amount of aid to incentivise the purchase of vehicles with alternative energies even further.

The new Plan also consists of two allocations aimed at installing charging networks and promoting research into this type of mobility, especially in the development of connected cars with smartphones.

Sources indicate that the Promovea Plan, which falls under the General Secretariat of Industry, will be put to a vote by the Board of Directors of the IDAE at the end of this month. The executive meeting will depend on the schedule of the Secretary of State for Energy, Daniel Navia Simón, who chairs the entity.

If this measure is approved, there will be no changes to the amounts, and the aid will be distributed depending on the type and technology used in each vehicle. The aid for the purchase of 100% electric cars could rise to 5,500 euros.

With the announcement of this new Promovea Plan, the rumours of a new edition of the PIVE Plan are put to rest. The draft General State Budget for 2018 does not contemplate aid for the purchase of diesel or petrol vehicles; instead, it will allocate 50 million euros to the IDAE and 16.6 to the Ministry of Economy to promote alternative energies.