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New subsidies for the purchase of electric vehicles

7 January 2019 - 16h26

The new scheme came into effect on January 1, 2019.

2019 marks a new stage for Monegasque electric mobility enthusiasts. The government wanted to change the system with the introduction of a subsidy for electric bikes with a power of less than or equal to 250W, which cannot be registered, and whose owners reside in the Principality. They will therefore be able to benefit from an aid for the purchase of 30% of the price of the TTC vehicle, capped at 400 euros.

An approach that continues to favour electric technology

Since 1994, the government has been promoting the use of clean vehicles in the Principality, notably through the granting of a purchase bonus, which has since continued to evolve. In this new scheme, the subsidy for other electric vehicles is still 30% of the purchase price inclusive of VAT, while the ceiling for the purchase aid is increased from 9,000 to 10,000 euros for the four electric wheels and 8,000 to 10,000 euros for plug-in hybrid vehicles emitting less than 21 g/km of CO2. For both wheels the ceiling remains at 3,000 euros.

Keeping in mind that electric vehicles also benefit from specific advantages such as free charging on the terminals of public car parks and semi-rapid and fast charging stations located on public roads, at the bottom of Rue Grimaldi, Place des Moulins and 24, Avenue de Fontvieille, as well as the specific identification “VE” giving them access to free parking in the streets of Monaco and the free of the annual stamp.

In addition, in order to encourage taxi drivers and discount companies to acquire more virtuous vehicles as part of their business, they will be able to benefit from an additional 3,000 euros flat-rate grant adding to the aid granted under the scheme.

What about hybrids vehicles? 

For hybrid vehicles the subsidy scheme is a bit more complex because it takes into account both the hybridization technology and the level of CO2 emissions.

Indeed, some adjustments have been planned with the aim of refocusing the device on the most virtuous vehicles: the exclusion, from now on, of semi-hybrid vehicles equipped with an electric motor lower or equal to 9kWh; a reduction in aid from 3,500 to 3,000 euros for vehicles emitting between 61 and 110 g/km of CO2; abolition of aid for hybrid vehicles capable of emitting 21 to 60 g/km of CO2.

For persons who have engaged in the purchase or rental of a vehicle meeting the criteria for obtaining assistance between September 1 and December 31, 2018 and for whom the amount of the help would be less favourable when applying the new scheme, they may benefit from the more favourable provisions of the previous rules.

Daniela Guerra

Photo © Daniela Guerra

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