A €15 million investment in schemes for the purchase of new electric vehicles (EVs) was announced by Transport Minister Chris Bonnett, in line with the Budget 2024 announcement last October.
Meanwhile, Transport Malta CEO Jonathan Borg said the agency is actively working to streamline the application process for the public to benefit from these incentives, making online applications more accessible. This streamlined process aims to reduce processing time, ensuring eligible applicants receive their benefits promptly. Complaints have consistently been made by applicants about the length of time to receive their grant money, often taking up to a year.
Currently, applications for 2024 electric vehicle grants are not open to the public, while the Government announcement did not specify when this will happen.
Minister Bonnett shared that approximately 4,000 new electric vehicles have been registered in the past two years alone, contributing to the current total of around 15,000 electric or hybrid vehicles on Maltese roads.
The initiatives and grants announced for 2024 include:
Furthermore, electric vehicles and plug-in hybrids with an electric autonomy of 50 km or more will be exempted from registration tax and annual road license fees for the first five years from the registration date.
The total number of firms that registered over €100,000 in profit in 2022 amounted to 5,044
Works are expected to start in the coming weeks
‘If I had no money, I would be happy with a dry place and necessary equipment for an affordable price’