ROME:Italy plans to set aside 8.7 billion euros ($9.7 billion) until 2030 to support its auto industry, a draft decree seen by Reuters showed on Tuesday.
As part of a package of measures to support the economy and curb soaring energy bills, Italy aims to allocate 700 million euros in 2022 and 1 billion euros per year from 2023 to 2030, says Decree.
The new package responds to business and union demands for a medium-term structural regime, after Rome spent a total of around 1.35 billion euros in 2020 and 2021, according to data from lobby group ANFIA, to support the industry through several measures that had to be periodically refinanced.
Although a latecomer compared to other European car manufacturing countries such as Germany and France, Italy is currently increasing its production of electric vehicles thanks to new models introduced and planned by Stellantis, the largest car manufacturer. from the country.
Germany subsidized purchases of battery electric vehicles and plug-in hybrids totaling 3.1 billion euros last year, almost five times more than in 2020.
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