Transport Minister Chris Bonett has revealed in Parliament that between January and September 2024, 3,183 applications for subsidies on new electric vehicles were approved, amounting to €25.5 million in financial support.
He also confirmed that the scheme for plug-in hybrid vehicles, which was closed in 2022, will not be reinstated.
However, the Government will retain the subsidy for electric vehicle purchases next year, albeit at a reduced rate.
Finance Minister Clyde Caruana announced during the Budget speech that the maximum grant per car will be lowered to €8,000, down from the current limit of €11,000.
Interestingly, statistics from the third quarter of 2024 revealed a notable shift in consumer preferences between electric and hybrid vehicles compared to the previous quarter.
While sales of fully electric vehicles decreased by 14.2 per cent, plug-in hybrid vehicles (diesel-electric) saw a rise of 22.2 per cent. Similarly, sales of mild hybrid vehicles (diesel-electric) increased by eight per cent, while those of mild hybrids (petrol-electric) rose by 5.8 per cent.
These trends suggest an evolving dynamic in Malta’s transition to greener transportation, as consumers balance the benefits of fully electric and hybrid technologies.
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