Italy to spend additional 500 million euros to support automotive market this year - draft decree

FILE PHOTO: An employee transports an engine at the Maserati new opening plant in Turin, January 30, 2013. REUTERS/Stefano Rellandini

ROME (Reuters) - Italy will spend additional 500 million euros (451.4 million pounds) this year in a number of measures to support the country’s automotive market, according to a draft of a new stimulus package to help recovery after the coronavirus crisis.

The draft decree, seen by Reuters on Wednesday, reinforces measures introduced earlier this year, which include incentives to buy electric and hybrid cars, as well as the latest generation of petrol and diesel cars.

Reporting by Giuseppe Fonte, writing by Giulio Piovaccari, editing by Maria Pia Quaglia