If you are thinking of buying an electric car, you will now have one more year to do so saving some money when reporting to the Treasury. It will be necessary to see if the MOVES Plan is also extended soon or not.
Help to buy an electric car
Buying an electric car is still something within reach of not all pocketsno matter how much anti-pollution legislation is trying to make us jump through hoops in the fight against the decarbonization of the automobile fleet.
Therefore, aid ends up being a decisive factor that can help make the leap to an electric car. Luckily, the Government will take advantage of the new shipment of European funds which the European Commission has confirmed to extend the useful life of the tax incentive for electric mobility until 2025. According to the information provided by the European Commission, this is the main novelty of the component of the Recovery Plan that refers to the tax system.
In this way, the 15% tax deduction in Income Tax on the amounts (up to a maximum of 20,000 euros) invested in the acquisition of an electric vehicle, which to date extended until December 31, 2024, is extended until New Year’s Eve 2025.
This reduction, which is intended to increase the number of units of electric vehicles in circulation, will be deductible during the next two yearsuntil the end of 2024, while it was susceptible to being extended for another year, as has ended up happening.
As stated by the President of the Government, Pedro Sánchezis about “a deduction, a 15% personal income tax relief for the purchase of electric vehicles that encourage transit, this green transition that we have to make to face the climate emergency and make sustainable mobility possible In our country”.
Price is the main deterrent factor
If we take into account the last study carried out by Plenoil as part of your project Possible Transition, their results yield an uncomfortable truth. This study shows that just over half of Spanish drivers (50.3%) are not considering purchasing an electric vehicle in the coming years.
This ‘Study on the energy transition’ by Plenoil has given voice to the disagreement of Spanish drivers about the switch to electric. In this way, we can analyze the results of a process of listening to all the actors participating in the energy transition to understand the possible difficulties that are being encountered in the process. path to decarbonization and seek joint solutions.
Among the main reasons for not wanting to buy an EV are its high price (61.3%), the shortage of charging points (46.6%), the charging time (35.7%), the price of electricity (32.6%) and the idea that this type of Cars are not the future (27.4%). Thus, aid is an essential part of reducing the purchase prices of an electric car and trying to make them more similar to combustion cars and perhaps encouraging the driver to switch from fuel to electricity.