Cyprus Mail

Over 4,000 apply for grant to buy electric vehicles

Over 4,000 people have applied for cash incentives to buy electric vehicles, the transport ministry announced on Monday.

The first phase of the plan was implemented on December 20, 2021, and will run until Monday, January 3, 2022, with a budget of € 8 million, the ministry said.

So far, a total of 4,269 applications have been submitted , which have exceeded the number of approvals that will be given under the first phase for most vehicle categories, it added.

Grants are still available for used electric taxi vehicles, used electric wheelchair, and mopeds and motorcycles

Amounts that will be allocated for the purchase of a new electric vehicle range from €9,000 to €19,000, while the amounts for the purchase of a used electric vehicle start from €4,000 and reach €12,000.

In addition, the applicant may, if they so wish, withdraw an old vehicle, older than 12 years, and receive an additional sponsorship of € 1,000 . The additional amount of € 1,000 is granted in the case of purchasing both a new and a used electric vehicle.

If the application is pre-approved, the beneficiary has a time limit of two months to present proof of order of the new or used electric vehicle and a time limit of 12 months for registration of the electric vehicle.

The money is given with the registration of the vehicle, within 12 months from the pre-approval.

“According to the data from the first week, the interest in the electric vehicle sponsorship is particularly high, which proves that citizens recognise the benefits of e-mobility and the importance of the transition to green transport and sustainable mobility,” the ministry said.

The two schemes – purchase incentive and scrappage deal – are seen as a step towards the transition to green transportation. They were approved by cabinet last month.


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