Government Bonuses for the purchase of electric and hybrid vehicles
For more than 25 years, the government has been committed to an incentive policy in favour of electric vehicles, with the objective of improving air quality and reducing greenhouse gas emissions, of which mobility accounts for 1 / 3 in the Principality. This policy is based on aid which has evolved since 1994, the date of their creation, in order to refocus it on the most effective vehicles and to take into account technological development.
As part of the Economic Recovery Plan, the government has decided to support car and motorcycle dealerships in the Principality while accelerating the transition of the Monegasque fleet.
Bonuses For Buying Eco Vehicles
Increases incentives will be granted until June 30, 2021 for purchases of ecological vehicles or electrically assisted bicycles in the Principality.
The eligibility of ecological vehicles for this additional premium is subject to 4 criteria:
- Place of acquisition: Principality of Monaco
- GHG emissions: Less than 60 g / km of CO2
- Purchase price (excluding options): Less than € 50,000 including tax
- Order date: Before 06/30/2021
The amount allocated as part of the Prince’s Government’s stimulus plan is 5 million euros. Of this figure, since November 2020, nearly 950,000 Euros have so far been allocated.
Marie-Pierre Gramaglia, Minister of Equipment, Environment and Town Planning in a press release notes: “Today, electric and hybrid vehicles represent nearly 8% of the fleet registered in Monaco. An encouraging figure, but one that calls for yet further progress. The aid allocated within the framework of the recovery plan is an incentive for those who want to take the step towards electricity, I encourage them to do so”.
The stimulus plan details
- Electric bikes (0 g / km CO2)
Purchase assistance: 30% of the price including VAT with a maximum of € 400
New Incentive : 30% of the purchase price with a maximum increased to € 700
- Two wheels (0 g / km CO2)
Purchase assistance: 30% of the price including VAT with a maximum of € 3,000
New Incentive: 40% of the purchase price with a maximum increased to € 4,500
From 0 to 20 g / km of CO2:
Purchase assistance: 30% of the price including VAT with a maximum of € 10,000
New Incentive : + € 4,000
From 21 to 50g / km of CO2:
Purchase assistance: € 6,000
New Incentive: + € 4,000
From 51 to 60 g / km of CO2:
Purchase assistance: € 5,000.
New Incentive: + € 4,000