A new support scheme for the automotive sector is being introduced with a budget of 300 million euros, as announced by Minister Adolfo Urso. This program, designed to assist businesses in the components sector affected by Volkswagen’s cuts, offers “mini development contracts” for investments ranging between 5 and 20 million euros.
Key Features of the Scheme:
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Application Details:
- A ministerial decree will soon announce the application start date.
- Businesses can prepare for their submissions in the meantime.
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Areas of Investment:
- Development of new vehicles and mobility solutions to reduce emissions.
- Advanced components and technologies for sustainable, autonomous, and connected mobility, including AI.
- Industrial diversification towards sectors like dual-use potential (e.g., defense).
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Investment Opportunities:
- Joint projects with up to five companies.
- Options include creating new facilities, expanding existing ones, restructuring, or acquiring at-risk production sites.
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Incentives:
- Non-repayable grants and subsidized loans covering up to 75% of eligible expenditures.
- Eligible expenses include premises, construction, machinery, software, and patents. Leased purchases are also acceptable under certain regulations.
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Exclusions and Obligations:
- Restrictions apply for companies relocating due to the Incentives Code.
- Assets funded through these incentives must be maintained within the investment unit for five years (three years for SMEs).
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Research and Development Costs:
- Eligible costs include staff, tools, patents, consultancy, and operational costs (limited to 20% of other eligible costs).
This initiative aims to bolster production capacity and foster innovation within Italy’s automotive sector while adhering to sustainability and technological advancements.
