Stellantis CEO Blames Italy's Slow EV Market on Insufficient Incentives
Carlos Tavares, CEO of Stellantis, has attributed Italy's slow electric vehicle (EV) market growth to the government's insufficient purchase incentives. Despite Italy offering substantial subsidies and incentives, Tavares believes these are not enough to boost EV adoption. Meanwhile, Prime Minister Giorgia Meloni has urged Stellantis to increase EV production in Italy.
Italy promotes electromobility through various incentives, such as up to €11,000 state subsidies for electric vehicles like the Fiat 500e. These bonuses make EVs more affordable for households meeting specific income criteria and vehicle scrappage conditions. Additionally, Italy supports related investments like charging infrastructure through legal and regulatory advisory services.
In 2023, Stellantis produced 751,384 low and zero-emission cars in Italy, a 9.6% increase from 2022. However, Prime Minister Giorgia Meloni wants Stellantis to produce at least one million electric vehicles in Italy. Italy aims to allocate 930 million euros to encourage purchases of domestically produced EVs, with incentives up to 13,750 euros for lower-income families.
Tavares criticized the Italian government for demanding increased EV production, suggesting that without subsidies, Italian plants are at risk of closure. Meloni, in turn, criticized Stellantis for planning to move car production to lower-cost countries during Italy's electrification transition. Tavares believes Italy should protect jobs in the automotive sector instead of attacking Stellantis.
The Italian government and Stellantis are at odds over EV production and incentives. While Italy offers substantial subsidies to promote EV purchases, Tavares argues that these are not enough to save Italian plants from closure without additional support. Meloni, however, wants Stellantis to increase EV production in Italy and has asked the company to reconsider its plans to move production elsewhere.
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