Help to buy electric and hybrid vehicles: Monaco supports the eco-friendly!
From 26 June 2023, this scheme will be updated to support the purchase of the most eco-friendly vehicles by both private individuals and businesses.
For private vehicles, the conditions are as follows:
The vehicle must be an electric or hybrid electric-petrol vehicle worth less than €60,000, including tax and excluding options (base price). Secondly, the amount awarded varies according to the level of CO² emissions, with three possible scenarios:
- Vehicles emitting less than 21 g/km of CO² are eligible for a grant of 30% of the base price of the vehicle, up to a maximum of 10,000 euros
- Vehicles emitting between 21 and 50g/km of CO² benefit from a flat-rate bonus of €5,000
- Vehicles emitting 51 to 98 g/km of CO² benefit from a flat-rate bonus of €1,500
An incentive scheme has also been established for professionals (businesses, self-employed) and associations who acquire more eco-friendly electric or hybrid electric-petrol vehicles for the purposes of business. Therefore:
- For the purchase of light commercial vehicles ≤3.5 tonnes emitting less than 21 g/km of CO² an additional flat-rate grant of 3.000 euros is awarded, amounting to 30% (capped at €10,000) of the price of the vehicle excluding VAT, excluding options
- For the purchase of electric freight trucks >3.5 tonnes emitting less than 21 g/km of CO² a bonus of 20% of the vehicle price, excluding tax and options, up to a maximum of €40,000, has been introduced
In the case of the many two-wheel vehicles in the principality, the government is also encouraging the purchase of electric vehicles, by increasing the grant to 40% of the price of the vehicle, including VAT and excluding options, up to a maximum of €4,500.
Finally, those purchasing electric bikes benefit from a flat-rate grant of €400, provided the purchase is made from a retailer located within the European Union and is delivered in Monaco. If delivery cannot be made in the principality, the buyer will be required to provide proof.
This incentive is open to all applicants for help to buy vehicles ordered from 26 June 2023 onwards, subject to the presentation of a purchase order.
Find all the information you need for your potential project in:
- The factsheet: Measures to promote ecological vehicles
- The procedure: How to apply for a subsidy for buying a clean energy vehicle