Italy Allocates €500 Million to Support Automotive and Strategic Production Sectors
Rome, December 23, 2024
The Italian Ministry of Economic Development (Mimit) has announced the signing of a decree by Minister Adolfo Urso that allocates €500 million in funding to support the automotive and strategic production sectors in the country.
The decree establishes a fund to provide grants and loans to businesses operating in these industries, with a focus on projects related to innovation, sustainability, and competitiveness. The funding will be distributed through a competitive selection process managed by Invitalia, the Italian National Agency for Foreign Investments and Economic Development.
Eligible Projects
Eligible projects for funding include:
- Research and development of new technologies and products, including electric and hybrid vehicles
- Investments in production lines and manufacturing processes to improve efficiency and sustainability
- Development of innovative production models and supply chain management systems
- Training and upskilling programs for workers in the automotive and strategic production sectors
- Projects aimed at reducing the environmental impact of production processes
Strategic Importance
“The automotive and strategic production sectors are crucial for Italy’s economic growth and competitiveness,” said Minister Urso. “This funding will support these industries in adopting innovative technologies, creating new jobs, and strengthening Italy’s position in the global market.”
The decree identifies strategic production sectors that will receive priority funding. These include:
- Aerospace
- Defense
- Energy
- Electronics
- Healthcare
- Robotics
- Telecoms
Application Process
Interested businesses can submit applications for funding through the Invitalia website. The selection process will be based on criteria such as the project’s potential impact, innovation, and contribution to the strategic development of the Italian economy.
The deadline for applications is March 31, 2025.
Mimit: Urso firma decreto, 500 milioni di euro per automotive e filiere produttive strategiche
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