Spain is offering buyers an incentive of up to €5,500 to buy electric cars

The Spanish government has adopted the new edition of its electric mobility subsidy programme. The new package, called MOVES, came into force on 16 February with a budget of 45 million euros. The focus is on promoting electric vehicles and charging infrastructure. The programme offers subsidies for the purchase of electric vehicles and plug-in hybrids, if a combustion motor vehicle at least ten years old is decommissioned. Then Spain grants 5,500 euros (+ 1,000 euros dealer bonus) for purely electric cars, but their list price may not exceed 48,400 euros.

This limit also applies to plug-in hybrids. They are eligible for grants depending on the electric range, and Spain offers 2,300 euros (up to a zero-emission range of 31.9 km), 3,600 euros (32 to 71.9 km) or 6,500 euros (from 72 km). These figures already include the dealership bonus. However, only a few PHEV models are below the maximum price stipulated in the subsidy programme.

Up to 700 euros are available for electric motorcycles and 15,000 euros for the purchase of trucks and buses with alternative drive systems (including natural gas).

Subsidies are also granted for the development of public and private charging infrastructure, specifically 30 or 40 percent of eligible costs up to 100,000 euros.

It is down to Spain’s distribution 17 regions (Comunidades autónomas) to coordinate the funding programme. Madrid gave them the mandate that between 20 and 50 percent of the funds must be invested in the purchase of alternative vehicles and between 30 and 60 percent in the development of charging infrastructure for electric vehicles. Eligible to apply are individual citizens as well as companies, municipalities and public institutions.

A new incentive that subsides the purchase of electric and plug-in hybrid cars has been launched for 2019 and anyone who is legally resident in Spain is eligible to apply. Spanish Government has set aside 45 million euros for grants for the purchase of electric and plug-in hybrid cars, electric motorbikes and other vehicles. The scheme is called Plan Moves 2019. This year the money available will be distributed to each autonomous region in Spain, rather than being controlled centrally. Grants are awarded on a first-come, first-served basis until the end of 2019, or earlier if funds are depleted. Grant amounts are based on the type of vehicle and purchaser (private buyers, self-employed or companies.

Who Can Request The Grant?

In order to be eligible, you need to be legally resident in Spain and have a NIE number. Self-employed people or those with a company in Spain will have to supply additional paperwork to show that they are up-to-date with their fiscal obligations. Car dealers should be able to arrange all the paperwork and, depending on the region, they may be able to check whether funding is still available.

What Type of Vehicles are Included?

Cars must be either electric, plug-in hybrids or similar. Check with your local car dealer exactly which models are included.

What Discount Will I Get?

Grants of up to 5500€ per car are available. The car dealership, or manufacturer, must also provide a direct discount of 1000€. Each Autonomous Community in Spain will have a period of six months to study your paperwork and inform you of the outcome. Your car dealer should be able to help you with the paperwork. This year 100,000€ is also reserved for grants for the installation of charging points, both public and private, and will cover between 30%-40% of the cost.

Essential Need-To-Knows

For this year’s program for individuals:

1. You must have a car to scrap that is over 10 years old and

2. It must have been in your name at least for the last 12 months and

3. It must have had its ITV (technical inspection document) valid when the Plan Moves 2019 was approved (16 Feb 2019).

Spanish Electric Vehicles Market

There has been a steady increase in the number of electric and hybrid electric cars registered across Spain in recent years. By the end of 2018, plug-in electric car sales in Spain hit a record of 2,256, which is 126% more than a year ago. The market share increased to a new high of 2.3 and For 2018, sales increased by 56% to 11,639 at an average market share of 0.9%. Even though Spain is still not yet figuring among the top countries in the European Union with more than 1 % of their registered cars either electric or hybrid electric, record sales numbers from 2018 show that this situation is changing.

Real Estate And Electric Mobility Revolution

Spain is still not ready for electric cars in many towns and cities. However, things are evolving and charging stations are spreading across the country. Marbella is a good example of a city developing towards a more energy efficient living. Nowadays, almost 20 charging points are available in different places such as shops, hotels and public parking. Charging ports are becoming part of the features offered by new developments. A huge selling point, buyers can find projects like this collection of 18 high contemporary villas in Marbella that among its features include also an individual electric car charging ports in each one of the residences.

This villa project in Marbella features electric car charging ports in each one of the residences.

For more information about this development or similar energy-efficiency projects, get in touch with our office today. We will be happy to put together a carefully selected collection of properties and a unique advisory to you