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Cyprus

Government handouts to withdraw old cars, and to buy an electric one

The scheme was to cover the purchase of a new electric car or a more energy efficient one

Two proposals, one for the withdrawal of old cars with the purchase of a new one, and another incentive to buy an electric car were approved by the cabinet on Friday.

The plan is two-fold, Transport Minister Vassiliki Anastasiadou said.

“The grant for the withdrawal of cars older than 15 years is €2,000 per vehicle,” she explained. In order to qualify, applicants need to buy a new car.

The second involves the purchase of a new electric car for less than €40,000, for which each buyer will get €5,000 from the government.

The electric car needs to have a capacity of less than 1,800 cc.

“The total amount available is €3 million, so we estimate there will be money for about 1,250 people who return old cars, and roughly for 100 who buy an electric car.”

“This is a very positive first step in enhancing environmental protection, meeting our obligations to the EU and promoting the use of electric cars which must be continued with other measures, such as charging stations and generating electricity with RES, with incentives for parking and more. This is a package that is being prepared,” the minister said.

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