Cyprus to offer €9,000 subsidy for electric car purchases

Cyprus is planning to offer government subsidies for the purchase of new electric and hybrid cars. The new subsidy program, with a budget of €4.5 million, is set to launch this year and will offer subsidies of up to €9,000 for zero-emission vehicles.

The mobility house stecker ladevorgang — Image: The Mobility House

This was reported by the Kathimerini newspaper, citing information from the Ministry of Transport and the Road Traffic Authority. According to the report, the program is intended to encourage the purchase of new electric and hybrid cars by providing around 450 subsidies for such vehicles.

It also states that the initiative is eagerly awaited by the country’s association of car importers: “Dealers already have large stocks of electric vehicles and are waiting for the program to start. They hope this will boost sales figures and public confidence in the electric vehicle market,” writes Kathimerini.

Funding for the new program comes from Cyprus’s Recovery and Resilience Plan (RRP), which has already provided €26 million in subsidies for electric vehicles since December 2022. According to the report, 3,200 applications have already been approved in previous funding rounds.

knews.kathimerini.com.cy

This article was originally published by Cora Werwitzke for electrive’s German edition