Spain to invest €13.2bn in electric vehicles, 250k EVs on road by 2023

London, (Quantum Commodity Intelligence) - Spain announced plans Wednesday to invest €13.2 billion in electric vehicles as part of measures aiming to get 250,000 electric vehicles on the country's roads by 2023, accompanied by 100,000 recharging points, according to local media reports.

This will include aid towards buying electric cars of up to €7,000, €9,000 for vans and €1,800 for motorcycles.

The measures are part of a €70bn package targeting the revitalisation of Spain's economy, which has been hit particularly hard by the Covid-19 pandemic.

The European Union has allocated €672.5bn of funds to the pandemic recovery, of which Italy and Spain will receive the largest portions.