€15 million grant scheme launched to boost electrification of Malta’s vehicles

A new €15 million scheme to facilitate the purchase of new electric vehicles was launched by Minister for Transport Aaron Farrugia, and Parliamentary Secretary for European Funds Chris Bonett, as part of the EU Recovery and Resilience Plan (RRP).

The grant is available for a range of vehicles including cars, pedelecs, minibuses and motorcycles among others.

A total of €50 million has been allocated through the RRP to be disbursed over a period of three years to encourage Malta’s motorists to switch to electric.

“€15 million was allocated in 2022, a further €15 million will be allocated during this year and the last 20 million by the end of 2024,” explained Dr Bonnet.

Individuals, non-government organisations and businesses are all eligible to participate in the scheme.

Motorists looking to buy an electric car can be eligible for can €11,000 grant which could increase by an additional €1,000 if they scrap their old car.

Meanwhile, those looking to buy a truck could receive up to 40 per cent of the selling price of a vehicle as a grant, capped at €70,000, which can be supplemented by an additional €25,000 if they scrap their old truck.

“Through this scheme, we are continuing to promote the use of cleaner and more environmentally sustainable transport. This is a direct investment in better air quality. It is worth reminding that the transport sector is the biggest contributor to air pollution and thus as a Government, we will continue to invest in this area,” stated Mr Farrugia.

The number of electric vehicles in Malta has risen steadily in recent years. Latest NSO data for Q4 2022 shows that there were 8,640 EVs in Malta, which roughly amounts to two per cent of all vehicles on Malta’s roads.

If taking into consideration all types of hybrid vehicles, the number increases to four per cent.

More information on the grants can be found here.