Transport Malta notes 'significant increase' in electric, plug-in hybrid cars

There were 3,738 plug-in hybrid cars and 7,362 electric vehicles in Malta and Gozo by the end of August 2023, Transport Malta has announced.

This increase in numbers, according to TM, demonstrated such grants were "well received" by the public. The government boosted its funding for sustainable transportation to €28.4 million, of which €13.4 million came from national funds and €15 million came from the Recovery and Resilience Plan (RRP).

In a statement, TM stated that government's commitment to promoting sustainable transport alternatives is seen in TM's 2022 investment of more than €27.5 million in incentives. These kinds of programmes encourage people to spend more money on electric and plug-in hybrid cars, which reduces emissions, the entity said. 

TM also noted that these schemes have reached over 5,549 beneficiaries, while €23.2 million of the €28.4 million allocated funds have already been accessed. 

Meanwhile, it was also said that while the grant for new motorcycles was allocated €1.3 million for 2023, Transport Malta was able to secure an additional €2.9 million with the aid of the finance ministry, making a total of €4.2 million available for this scheme in 2023. TM stated that there were a total of 1,647 persons that qualified for the programme as the allocated funds were completely exhausted. 

TM added that Malta was successful in obtaining EU funds through the RRP as a contribution to address issues with the sharp rise in energy consumption and waste creation brought on by, " rapid population growth, employment, and GDP growth in recent years."
These funds, totaling €50.3 million, were intended to be dispersed over a period of three years, with €15 million being allocated in 2022, €15 million more being allocated in 2023, and €20.3 million by the end of 2024.

TM has requested and received approval from the EU to extend the €50.3 million spillover from 2022 to the end of 2025. This implies that even in 2025, utilising EU RRP funds, the award in the form of a cash incentive will be accessible.