Financial incentives for the acquisition of electric vehicles and loading stations in the Autonomous Region of the Azores

The Regional Regulatory Decree no. 2/2020/A was published today, which regulates the granting of financial benefits for the acquisition of new electric vehicles and loading stations, in the Autonomous Region of the Azores.

The granting of these benefits requires an application to the department of the Regional Government of the Azores with competence in energy matters.

This benefit is available to natural and legal persons who have their tax residency in the Autonomous Region of the Azores. This benefit does not apply to companies engaged in the trade or rental of equipment covered by these incentives, or to electric vehicles that have been subject to the process of legalization of importation of vehicles.

Once the incentive has been granted, the beneficiary must own the electric vehicle for at least 5 years, also being prohibited from exporting the vehicle for the same period. The non-compliance with these obligations may lead to the repayment of the incentive in full.

The amount and conditions of the financial support will be fixed by resolution of the Regional Government Council of the Azores.

Click on the link below to see the diploma:

https://dre.pt/application/conteudo/128515585

For more information please contact us at: jcg@ccsllegal.com

[Photo: JP Valery, available at: unsplash.com]