Over 4,500 applications for electric car incentives

A total of 4,613 people have applied for cash incentives to buy electric vehicles, the transport ministry announced on Monday, upon the completion of the first phase of the scheme.

The applications were submitted between December 20 last year and January 3.

Most, 3,396, concerned the purchase of an electric vehicle for private use, of which 360 will be approved.

The first phase counts a budget of €8 million.

According to the ministry, the examination of the applications will begin in the coming days and applicants will be notified if they are pre-approved.

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.

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.

Grants were also available for used electric taxi vehicles, small and large buses, used electric wheelchair, and mopeds and motorcycles

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

The plan contributes to the government’s policy for a gradual transition to green transportation and sustainable mobility, the ministry said.

Cyprus has set a national goal that by 2030, 25 per cent of new vehicle registrations will be electric with the ultimate goal of increasing this percentage to 100 per cent by 2035.

The high number of applications for the plan shows that this goal can be achieved, the announcement said.

Another government support plan for the purchase of electric vehicle is also expected to be announced on January 17, the ministry added.