Funding of electromobility in Finland

Landkarte Finnland

For a long period there weren’t any funding or incentive options available for finnish residents. The reason for this is that the nations’ adoption of biofuels was a major focus when it comes to modern mobility concepts for many years. But, luckily, we can see a very positive development at the moment. Many incentives have been launched and the overall market-share for electric vehicles has grown up to 14 %. Let’s see how one can benefit from these measures!

8. February 2021

Charging infrastructure in general

The finnish government is working on building a solid charging infrastructure. With a budget of 5.5 million Euro, many charging stations were built, and the expansion is ongoing. In addition to that many cities also invest in the expansion of charging infrastructure.

Fundings for charging infrastructure

In 2016, the Finnish charging subsidy programme was extended. It was launched by the Ministry of Employment and Economy and is part of an energy investment programme. This subsidy programme allocated 4.8 million Euro in order to further develop the public charging infrastructure. Commercial organizations that want to expand their charging parks or lease electric vehicles as company cars strongly benefit from the fundings. They receive up to 35 % of their charging investments and upt to 30 % of the capital share of their leasing expenses.

The Finnish Housing Finance and Development Centre released further subsidies in 2017. A whole 1.5 million Euro are available for housing cooperatives, condominiums and other similar organisations. The organisations have the opportunity to apply for a 35 % subsidy towards the total cost of purchasing and installing charging points. The prerequisite for this grant is the installation of charging points for at least 5 vehicles.

Eco-tax

In Finland, electric cars are usually the much cheaper option when compared to petrol cars. But why? The answer is simple: The prices for diesel and gasoline have almost tripled in recent years.

Subsidies

Private individuals receive up to 2.000 Euro when buying a new electric car. The condition is that the list price of the car does not exceed 50.000 Euro. In addition, the Finnish government regularly runs scrappage schemes. These allow private individuals to receive bonuses of up to 2.000 Euro for scrapping old diesel/petrol vehicles when buying a new electric car.

Tax Benefits

Tax savers, watch out! In Finland, there are tax advantages for owning an electric car. Electromobilists pay the minimum rate (5 %) of the CO2-based registration tax.

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