Malta Enterprise to assist businesses to invest in electric vehicles

The Ministry of Economy, Enterprise and Strategic Projects, together with Malta Enterprise, launched the Green Mobility Scheme, an initiative to promote the adoption of electric vehicles and sustainable transportation practices across businesses in Malta. Transportation is pivotal in business operations and contributes significantly to environmental pollution.

This was announced by Minister for Economy, Enterprise and Strategic Projects Silvio Schembri and Malta Enterprise CEO Kurt Farrugia. The scheme encourages businesses to transition to electric vehicles to transport goods and people by providing financial incentives such as tax credits and grants to support investments in Electric Vehicle charging infrastructure and leasing clean or zero-emission vehicles.

Minister Silvio Schembri explained that this scheme addresses and offers assistance to businesses that want to invest in electric cars. He added that this scheme is being announced in line with the EU’s goal of becoming the first climate-neutral continent by 2050, incentivizing the transition to more sustainable transport.

From his end, Kurt Farrugia, CEO of Malta Enterprise explained, “This scheme may cover 2 types of investments – investments in charging infrastructure and lease of clean/zero emission vehicles. As per EV charging infrastructure Malta Enterprise can support companies that use a loan for such investments by covering their interests and also support via tax credits on part of the costs incurred directly when the company funds this investment themselves.  As per leasing of vehicles – Malta Enterprise may cover eligible costs for clean or zero-emission vehicles over combustion vehicles on lease agreement of more than 12 months.”

Businesses interested in participating in this scheme are encouraged to contact Malta Enterprise on 144 or info@businessfirst.com.mt.