MITECO increases MOVES III funding by 350 million, reaching a total of 1.55 billion euros for the subsidy program

On Tuesday, June 25th, the Ministry for the Ecological Transition and the Demographic Challenge (MITECO) decided to extend the MOVES III Program through the end of the year, adding 350 million euros to the existing budget. This increase was approved by the Council of Ministers, bringing the program’s total funding to 1.55 billion euros (1,550 million euros). The program is designed to incentivize electric vehicle purchases and the installation of charging points.

The new funds consist of 200 million euros sourced from the General State Budgets and 150 million euros from the Recovery, Transformation and Resilience Plan (PRTR), managed by the Institute for Energy Saving and Diversification (IDAE), an agency under MITECO.

New incentive lines

Additionally, MITECO has introduced several new incentive streams to boost electric mobility:

  • MOVES Flotas Plus: 50 million euros are allocated to accelerate the electrification of corporate fleets. Currently undergoing public consultation, this program aims not only to replace high-annual-mileage vehicles—thereby improving energy efficiency and air quality—but also to foster a more accessible second-hand electric vehicle market for the public.
  • MOVES Corredores: Also under public consultation, this initiative will fund the installation of charging points along stretches of road with low coverage, known as “blind spots,” guaranteeing adequate charging infrastructure across the primary road network. MITECO invites all interested parties to participate and submit feedback in the coming weeks.

Summary of the MOVES III program extension

  • Eligible expenses: installation of electric vehicle charging infrastructure and purchase of electric vehicles.
  • New deadline: 12/31/2024
  • Budget top-up: 350 million euros distributed across autonomous communities.
  • Funding level: up to 80% of the cost for charging points and up to 9,000 euros for purchasing electric vehicles.
  • Target audience: Public administration, companies, self-employed workers, and private individuals.
  • Contact: Apply for the MOVES III subsidy

Extension of MOVES for heavy-duty vehicles

The Ministry of Transport and Sustainable Mobility has also extended the MOVES program for heavy-duty vehicles with an additional 50 million euros, topping up its initial 400 million euro budget.

Tax incentives for companies and self-employed individuals

María Jesús Montero, First Vice President and Minister of Finance, announced two new tax measures to encourage transport decarbonization:

  • Investment in zero-emission heavy-duty vehicles: A 50 million euro allocation directed toward companies purchasing electric trucks and buses.
  • Tax incentive for businesses and self-employed workers: Free depreciation for corporate tax purposes is introduced for 2024 and 2025, applicable to the purchase of efficient vehicles and charging point installations. Self-employed individuals paying personal income tax (IRPF) will also benefit from these tax advantages.

Taken together, these new measures alongside the MOVES III expansion represent a total investment of 2.55 billion euros (2,550 million euros) to drive electric mobility across Spain, benefiting private citizens, businesses, and the public sector alike. This funding, largely drawn from NextGeneration EU funds, will help achieve the targets outlined in the “Shock Plan for Sustainable, Safe, and Connected Mobility in Urban and Metropolitan Areas,” in line with the National Integrated Energy and Climate Plan (PNIEC) and the National Air Pollution Control Program.

The technical project proposal: the first step to securing your electric mobility project for your municipality or business

Etecnic has already managed over 400 electric mobility projects for public administrations and private companies.

The technical project proposal is the vital first step to apply for the grant and secure savings of up to 80% on electric charging infrastructure for your municipality or enterprise. Etecnic supports you throughout the application journey, preparing all necessary documentation.

Contact our technical team for more information and end-to-end guidance.