EIB backs new charging network

The registration of hybrid and electric vehicles in Cyprus experienced a robust rise in the first eight months of 2025, according to a report released on Monday by the state statistical service.

The report showed that the share of electric cars increased to 4.8 per cent in January-August 2025, up from 3.3 per cent in the same period last year.

Hybrid vehicles saw an even sharper rise, climbing to 43.6 per cent from 36.8 per cent in January-August 2024.

This growth comes as the share of petrol-powered passenger cars fell to 43.2 per cent from 50.1 per cent and diesel-powered cars declined to 8.5 per cent from 9.9 per cent.

Overall, total motor vehicle registrations for January-August 2025 rose slightly by 0.8 per cent to 34.668, compared to 34.391 in the same period in 2024.

Passenger saloon cars showed a marginal increase to 26.961 from 26.902 in January-August 2024, representing a rise of 0.2 per cent.

Of the total passenger saloon cars, 10.373 or 38.5 per cent were new vehicles, while 16.588 or 61.5 per cent were used.

Rental passenger cars in particular recorded a sharp increase of 27.2 per cent to 4.044 units.

In August 2025, total motor vehicle registrations numbered 3.468, marking a decrease of 1.7 per cent compared to 3.527 in August 2024.

Passenger saloon cars in August registered a rise of 1.0 per cent to 2.803, up from 2.776 in the same month last year.

Motor coaches and buses saw a decline, with 101 registrations in January-August 2025, compared to 110 in the same period of 2024.

Goods conveyance vehicles recorded a 2.0 per cent increase to 3.935, compared to 3.858 in January-August 2024.

Within this category, rental goods vehicles rose by 10.0 per cent to 187 units, and light goods vehicles increased by 2.6 per cent to 3.152.

Road tractors for trailers decreased by 9.2 per cent to 138, while heavy goods vehicles fell by 1.1 per cent to 458.

Registrations of mopeds under 50cc declined sharply to 155 from 535 in the corresponding period last year.

Conversely, motorcycles over 50cc experienced strong growth, increasing by 22.2 per cent to 3.094 compared to 2.532 in January-August 2024.

EU funding to expand EV charging network in Greece and Cyprus

Meanwihle, the European Investment Bank (EIB) on the same day announced that it will provide financing of up to €17.5 million to Greek company Joltie SA to expand the electric vehicle charging network in Greece and Cyprus.

The investment is part of the InvestEU programme and is expected to support approximately 2,200 new charging points by 2029.

According to the bank, the financing aims to accelerate the transition to sustainable mobility, helping to decarbonise road transport and reduce greenhouse gas emissions.

The project aligns fully with the European Union’s climate and economic cohesion objectives in Southeast Europe.

“The EIB is committed to supporting the green transition and sustainable mobility in Europe,” said European Investment Bank Vice-President Ioannis Tsakiris.

“Our collaboration with Joltie will strengthen EV charging infrastructure in Greece and Cyprus, contributing to more accessible and economically viable electric mobility,” he added.

“With the support of InvestEU, this financing will catalyse private investments and enhance local capacity to achieve our climate action goals,” he explained.

Founded in 2022 and based in Attica, Joltie SA combines the manufacturing of charging equipment with the operation of its own EV charging network.

The company has installed one third of all charging points in Greece and operates more than 500 chargers across Greece and Cyprus.